© Dukascopy Bank SA
Since May 21, the instrument has not moved far from the upper boundary of the channel and now EUR/CHF is trading only 10 pips lower than the corridor's trend-line. Supporting the bullish outlook, the SWFX data reveals that over 63% of traders believe the single European currency may appreciate against the kiwi in the hours to come. Meanwhile, technical indicators are sending mixed signals, pointing to a possible rally in the short-term but warning about a weakness in the long-term.
© Dukascopy Bank SA