Analysis: Asymmetric Triangle | AUD\CHF

Precise Asymmetric Triangle chart pattern at the AUD\CHF currency pair, with a minimum of 70 pips target. This is a strong chart pattern signaling breakout of the horizontal line - in this case, Resistance trendline. We would expect price to break the resistance level upwards.

Note that the first downswing of Triangle is also on 23.6% retracement of the uptrend, which confirms the breakout and the bullish move.

Trading
Aggressive Traders - Take trades upon bounce of price off the Support trendline. If price reaches the Resistance trendline and does not break it, close trade.
Conservative Traders - Wait for price to break the triangle Resistance level and pull back to the level. This is a high-quality entry with high probability for success.

Target
Minimal target for this pattern is 0.8720 - calculated using the Measure rule. Measuring the distance between Resistance to the first downswing on Support.

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