CAD/CHF 4H Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
A similar situation as with USD/DKK can be observed on CAD/CHF. The pair is also trading right at the level of pattern's support, while aggregate indicators are neutral. At the same time, 64% of traders are having bullish outlook on the pair, while vast majority of pending orders (75%) are placed to sell the pair. Therefore, it is rather difficult to predict pair's future performance. Nevertheless, a move below 0.7061 will put weekly S2 at 0.7804 on the map. As an alternative scenario, the pair can bounce from the current level and head towards a weekly pivot at 0.7960. The key level for long traders is located at a recent high and a 200-period SMA at 0.8049.
© Dukascopy Bank SA
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