USD/CHF 1H Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
On October 15, USD/CHF started its sharp depreciation, being trapped between two downward sloping lines. The pair plummeted to the lowest level since November 2011 several hours ago and now remains close to this level. In case the currency couple continues to succumb to heavy selling pressure it may re-approach the lower boundary of the pattern and may even try to breach it. A fall below this important support level would suggest on-going weakness of the pair and may take it well below the recent low. Technical indicators also point to a possible decline in the short-term but are neutral for medium and long terms.
© Dukascopy Bank SA
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