EUR/CHF 1H Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
EUR/CHF inability to settle above a seven-week high of 1.2238 led to a long-lasting drop that pushed the currency couple into a bearish corridor, inside which it has been fluctuating for the last 114 hours.
The pair of two European currencies recently has started to demonstrate some resistance to the downside pressure. The instrument refused to retreat after a stab to the upper limit of the channel; it started to vacillate slightly below this important line. According to the SWFX data, the pair is in trader's favour – more than two thirds of them hold long positions, implying that we may see a EUR/CHF appreciation before long.
© Dukascopy Bank SA
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