CAD/CHF 1H Chart: Ascending Triangle

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
Since early March, the Canadian Dollar has been tilted upwards against the Swiss Franc but the rally was halted at 0.8363 (a six-month high and upper trend-line of the ascending triangle) that has been acting as an impenetrable ceiling for the last 143 hours. Given that the pair is on the verge of diving below the lower limit of the formation at a time when the apex is near, this formidable resistance is likely to remain unattainable. At the same time, SWFX numbers belie the bearish view – about 75% of traders are bullish.
© Dukascopy Bank SA
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