CAD/CHF 4H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA

Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Buy
RSI (14) Neutral Sell Neutral
Stochastic (5; 3) Sell Sell Sell
Alligator (13; 8; 5) Neutral Buy Buy
SAR (0.02; 0.2) Sell Buy Buy
Aggregate

The Canadian Dollar is appreciating against the Swiss Franc in the medium-term ascending channel. The pattern started to form shortly after the currency exchange rate left a descending triangle pattern and started to move in a new uptrend. For the moment, the channel is made from four confirmation points, which means that it has fully formed. But the fact that this formation took almost a month suggests that the upcoming dissolution might also take several weeks. In the short-run, the pair is expected to bounce off from a combined support level set up by the 55-hour SMA, the lower trend-line and the 100-hour SMA. It should be noted that both technical indicators have been moving along the pattern's bottom edge and more than once forced the Loonie to make a rebound.

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