EUR/CHF 4H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
© Dukascopy Bank SA
After diving beneath its 200-bar SMA, the pair remained under this significant level that started to act as the strong resistance. However, on August 13 EUR/CHF managed to jump above its 200-bar SMA to approach the upper trend-line of the pattern. Having touched the upper boundary, the pair reversed its direction, falling below its 200-bar SMA and moving close to the lower limit of the pattern.
Currently, EUR/CHF is trading slightly higher, but a sharp advance is unlikely, as the pair faces the resistance at 1.2335 and 1.2341. Meanwhile, in case of a fresh downward pressure, the currency pair may seek support at 1.2311 and 1.2304.
© Dukascopy Bank SA
© Dukascopy Bank SA
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