USD/CHF recently broke the clear 4-hour triangle chart pattern which was recently identified by Autochartist. Autochartist rates the quality of this triangle at the 5 bar level, which corresponds to the slow initial trend (1 bar), above-average uniformity (6 bars) and near-maximum clarity (9 bars). Higher clarity reflects the sharpness of the price impulses which formed this triangle. USD/CHF is expected to rise to the forecast price 1.0216 in coming trading sessions.
As can be seen from the daily USD/CHF chart below, the breakout of this triangle continues the active impulse wave, which started earlier from the support area lying between the parity and the 50% Fibonacci correction of the previous upward impulse from January. This triangle breakout is also aligned with the prevailing uptrend visible on the daily USD/CHF charts, which adds to the probability the price will continue to rise toward the forecast price 1.0216 tomorrow.