CAD/CHF 1H Chart: Channel Up

Source: Dukascopy Bank SA
© Dukascopy Bank SA
Like in the previous case, the Swiss Franc commenced depreciation against its peer, the Canadian Dollar, in the second part of March when a drop to a three-year low of 0.7808 underpinned CAD/CHF. Since then, the pair has been on the rise, being locked between two upward sloping lines for more than 235 hours.
Now the pair is vacillating not far away from the lower boundary of the corridor as heavy downside pressure prevailing after CAD/CHF hit a one-month high of 0.8090 late March is restricting the upswing. However, the pair has some potential for a climb as technical data points to a possible strength in sort and long terms.
© Dukascopy Bank SA
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Thu, 03 Apr 2014 06:49:54 GMT

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