EUR/CHF 4H Chart: Channel Down

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
Moving along the lines of a channel pattern, EUR/CHF entered a downtrend with short-term downside potential until 1.0734 which would then make levels underneath unattractive, sending the pair on yet another motion up. We will be watching 1.0804, 1.0738 and 1.0780 which will lead the pair to levels unseen since the Brexit vote and August 2015 before that. In case the pair is depleted of further downside risks, the channel line at 1.0821 will be broken and the surge will be cut by 1.0835/37, moving the pair on to a retracement. We do, however, see little signs of weakness for the channel.
© Dukascopy Bank SA
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