CAD/CHF 1H Chart: Rising Wedge

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
After hitting the lowest level since August on 16th of October at 0.8319, CAD/CHF started reversing the recent losses. At the same time the pair was able to form a rising wedge pattern.
The pair is reaching for the highest levels this year that were set at early October, when the Loonie approached 0.8639. The shorter term technical studies, namely 1H and 4H, are strongly bullish. Moreover, also the majority (75%) of the SWFX traders' are bullish on CAD/CHF. There are certainly more bullish signals for the time being; therefore, with the pair being near the upper trend-line we see a potential for bullish break-out, this year's high could be the target.
© Dukascopy Bank SA
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