EUR/CHF 1H Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
After a stab to a two-week high in mid-November, EUR/CHF commenced a losing streak that has lasted for almost two weeks already. Being a subject to a heavy downside pressure, EUR/CHF shaped a channel down pattern that started on November 19 and sent the pair to a three-week low reached several hours ago. Shortly after, the pair reversed its trend and started to climb. Now it is approaching its 50-hour SMA that acts as a strong resistance and may block the upside.
© Dukascopy Bank SA
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