CAD/CHF 1H Chart: Double Top

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
After crossing its 200-hour SMA, CAD/CHF commenced a sharp upward movement that sent the currency couple to almost one-month high of 0.9066. Having reached this peak, the pair retreated to the level of 0.8976 (pattern's support), bounced off this mark to return to the almost one-month high, but again failed to consolidate at this level. At the moment, the pair is struggling at its daily pivot point at 0.9027. If it slips through daily pivot, the pair may fall until it reaches a daily support at 0.8988. In case daily S1 does not mollify a selling pressure, the pair is likely to break through the pattern's support that would mean a sharp depreciation of pair.
© Dukascopy Bank SA
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