CAD/CHF 4H Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
After touching 0.9250 on July 10 the CAD/CHF turned lower, and now hover around 200-day SMA, around 0.908. Even though the pair is trading in the upper part of a channel, aggregate technical indicators are sending either "neutral" or "sell" signals. On the contrary, 70% of all opened positions are long, suggesting bulls may push the pair higher, and a re-test of the resistance line can be anticipated. Therefore, in a shorter term, the outlook is bullish, while in a more longer period the continuation of the downside trend is expected. As an alternative scenario, bulls may be strong enough to penetrate the upper trend line, and in this case the price will jump significantly higher.
© Dukascopy Bank SA
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