EUR/CHF 1H Chart: Broadening Falling Wedge

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
Following some stabilisation of EUR/CHF currency pair in February, the Swiss Franc began appreciating again in March. As a result, a number of bearish channels have been created, and the latest one started emerging on Tuesday of last week. However, for now it seems that the Euro is likely to rebound moderately against the Swissie, at the least in the short-term, as the pair managed to bounce off the April low at 1.0370 on Friday. SWFX market participants are giving distinct bullish signals on the common European currency, with 72% of all opened positions being long at the moment. On the other hand, 4H technical studies expect to see some weakness of the pair in the medium-term.
© Dukascopy Bank SA
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