EUR/CHF 4H Chart: Channel Down

Source: Dukascopy Bank SA
© Dukascopy Bank SA
A rally of EUR/CHF observed in the second part of December was followed by a sharp decline. Whilst falling, the pair has been locked in the corridor created by two downward sloping lines that have been restricting the pair's moves for 216 hours.
At the moment, EUR/CHF is faltering above a one-month low of 1.2213, and may dive below this mark in the hours to come as more than 60% of traders are bearish on the pair. To confirm this, EUR/CHF has to break through a bunch of support levels at 1.2219/04 (daily S1, S2) that if overcome will push the level of 1.2183 (daily S3) to the fore.
© Dukascopy Bank SA
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