CAD/CHF 4H Chart: Breakout could occur

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Indicator4H1D1W
MACD(12;26;9)BuySellBuy
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)NeutralSellBuy
SAR(0.02;0.2)BuySellSell
Aggregate⇗⇘⇒

[ANNOUNCE]The Canadian Dollar has surged by 1.43% against the Swiss Franc since this week's trading sessions. The currency pair breached the 50– period simple moving average at 0.7332 on April 22.[/ANNOUNCE]

The exchange rate is currently trading near the upper line of an ascending channel pattern at 0.7350.

If the channel pattern holds, bearish traders are likely to pressure the CAD/CHF pair lower during the following trading sessions. 

However, if the currency exchange rate breaks the ascending channel pattern, a surge towards the weekly R2 at the 0.7450 level could be expected next week.

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