CAD/CHF 1H Chart: Descending Triangle

Source: Dukascopy Bank SA
© Dukascopy Bank SA
A week of strong gains by CAD/CHF ended after Jul 20 when the pair touched a seven-month high of 0.8431. After that, the pair has been less volatile but mostly bearishly-biased, being bounded by the trend-lines of the 76-bar long descending triangle.
At the moment, the Canadian Dollar is trading sideways compared to the Swiss Franc and notable changes in the pair's trend may be expected not earlier than it crosses one of the triangle's limits separated by only 10-pips wide area. Considering that the apex is due to be attained next Monday, Jul 28, there is not a plenty of time for the instrument to determine the direction of a breakout.
© Dukascopy Bank SA
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