EUR/CHF 1H Chart: Channel Up

For more than 300 hours already the common currency has been consistently gaining value relative to the Swiss Franc, covering 140 pips. However, we would rather focus on the last 150 bars, which form the channel up and thus give us a better understanding of the most likely reversal points.

Respectively, in case the exchange rate falls, the support line at 1.2345 should be able to initiate a recovery, while the up-trend at 1.2387 is supposed to limit the near-term rallies. In the meantime, an absolute majority (74%) of market participants believe EUR/CHF will remain bullish.