CAD/CHF 4H Chart: Upside momentum likely

Source: Dukascopy Bank SA

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

The Canadian Dollar has been appreciating against the Swiss Franc since late June when it bounced off the lower boundary of a dominant ascending channel pattern near the 0.7395 regions on June 25. The currency pair reached a two-month high level on August 8.

However, after piercing a resistance cluster formed by the combination of the weekly and the monthly pivot points at 0.7668, the exchange rate made a U-turn south.

Everything being equal, it is likely that the CAD/CHF currency exchange rate continue trading in the dominant ascending channel during the following trading sessions.

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