© Dukascopy Bank SA
A channel down pattern on the four-hour chart of CAD/CHF bears a striking resemblance to the bearish corridor observed on the Euro-Swissie chart. However, signals of the technical indicators, especially on the shorter-term time-frames, and sentiment of the traders are different. Still, here the Swiss Franc is also expected to outperform its counterpart and pull loonie's price down to 0.78. There the currency pair is supposed to meet the down-trend support line and commence a bullish correction. At the same time, the rate should not spike above the resistances at 0.8138 and 0.8177, which are created by the weekly PP, 200-period SMA and the falling trend-line.
© Dukascopy Bank SA