AUD/CHF recently completed the well-formed Up Channel identified by Autochartist on the daily charts. Autochartist rates the overall Quality of this Up Channel at the 6 bar level which reflects the following values of the individual contributing Quality indicators: 3-bar Initial Trend, 8-bar Uniformity and maximum, 10-bar Clarity. High Uniformity and Clarity indicate the well-formed chart pattern with high visibility to the market participants. The visibility of this Up Channel is also increased by the fact that this chart pattern took 272 daily candles to form. The top of this chart pattern (point C on the chart below) formed when the pair reversed down from the resistance zone close to the strong resistance level 1.0200 (which previously stopped and reversed the sharp uptrend in the middle of 2010). The pair is expected to fall further toward the Forecast Price 0.9134.
The weekly AUD/CHF chart below shows the previous price action close to the major resistance 1.0200:
AUD/CHF" title="AUD/CHF" width="594" height="532">
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Daily Forex Update: AUD/CHF
Published 10/08/2012, 08:18 AM
Updated 03/09/2019, 08:30 AM
Daily Forex Update: AUD/CHF
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