CAD/CHF 1H Chart: Symmetrical Triangle

Source: Dukascopy Bank SA
© Dukascopy Bank SA
CAD/CHF continued the somewhat ranging motion on the large scale, which it had extended for one and a half years. The triangle implies that the pair will continue the short-term uptrend and reach for levels above 0.7693, the upper boundary of the pattern. Upside potential will, however, be cut at 0.7755, a level that has been tested for multiple times on the larger scale. Immediate resistance lies at 0.7696 and then 0.7711/13 and will provide stickiness for the rate to step higher. Currently mid-pattern, the pair will have a hard time to soar to the upper boundary at 0.7693 due to a cluster of levels pushing from both sides at 0.7684/83.
© Dukascopy Bank SA
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