© Dukascopy Bank SA
In the next few hours the Swissy will reach the pattern's apex; therefore, this is a interesting pattern to watch. Now, the technical indicators expect the currency couple to continue its sideways trend. However, for instance the SWFX traders' have a completely different outlook, as 73% of them have opened short positions on the pair. To our mind, the pair could approach October's low at 1.3222 if it declines below the major level at 1.33.
© Dukascopy Bank SA