EUR/CHF 1H Chart: Channel Down

Source: Dukascopy Bank SA
© Dukascopy Bank SA
EUR/CHF followed a bearish trend in the second part of May and after a few days the pair entered a downward sloping corridor. The pair now is headed towards the daily S1 at 1.2198, a drop below which may push the next support zone – daily S2 at 1.2194 – to the fore. However, market participants are not so confident in the pair's weakness – 54% of then still hold long positions. At the same time, technical data fails to shed some light, sending neutral signals for both short and long term perspectives.
© Dukascopy Bank SA
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