CAD/CHF 1H Chart: Triangle

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
The triangle pattern started on August 15, when the pair reached almost a one-month high of 0.9085. The pair had been bouncing off the pattern's boundaries until it finally broke through the lower limit of the pattern on September 11 that is likely to be a starting point for an accelerating depreciation of the currency couple.
The pair is trading below its daily pivot point at 0.9023 but above its four-hour support line at 0.9003. The pair is likely to cross this support and move to the next support zone at 0.8997 (daily S1). The bearish scenario is also supported by traders, as about 54% of them bet on depreciation of the pair.
© Dukascopy Bank SA
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