EUR/CHF 4H Chart: Channel Up

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
The single currency has a good opportunity to outperform the Swiss Franc. From below EUR/CHF is underpinned by the rising trend-line and the long-term moving average. And while the near-term technicals are mixed, the weekly studies are confidently pointing north. If the rally is the case, the first major challenge will be expected only at 1.1050, represented by the September high. If breached, this will pave the way towards the upper edge of the forming channel at 1.1130. Meanwhile, violation of 1.0880 will invalidate the bullish outlook. In this scenario the September low at 1.08 will be the first one to greet the exchange rate before the August 19 low (1.0714).
© Dukascopy Bank SA
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Fri, 02 Oct 2015 13:38:12 GMT

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