NZD/CHF 4H Chart: Channel Up

Source: Dukascopy Bank SA
© Dukascopy Bank SA
The New Zealand Dollar is simultaneously in two ascending channel patterns against the Swiss Franc, as the currency exchange rate has confirmed two channel on different timeframes. On the four hour chart the pair is in a short term channel up pattern for the past month, and, in the meantime, on a larger scale the Kiwi is surging against the Franc in another channel. The secondary or smaller scale pattern is directing the exchange rate to the larger channel's upper trend line, and in accordance with both patterns the pair is set to change its direction majorly in the second half of September around the mark of 0.7350. Moreover, technical indicators on most long term timeframes confirm the surge of the rate.
© Dukascopy Bank SA
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