CAD/CHF 4H Chart: Channel Up

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
A plunge to a three-year low of 0.7805 in mid-March provoked a long-lasting climb of CAD/CHF that now is trading within the boundaries of the 131-bar long channel up pattern.
At the moment the currency couple is sitting close to a six-month high of 0.8422 it reached Jul 4 and given that the instrument got a strong bullish momentum after testing the lower boundary of the channel several hours earlier, the pair may not only re-approach the recent high but also surpass this formidable resistance in the hours to come. Meanwhile, technical indicators are neutral for the short and medium terms but sends a clear bullish signal for the long-term.
© Dukascopy Bank SA
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