EUR/CHF 4H Chart: Falling Wedge

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Source: Dukascopy Bank SA
EUR/CHF has been keen on forming wedges recently as a break above the falling wedge on the daily time-frame resulted in a similar pattern on the four-hour chart. The latest wedge reflects the extended correction that failed to lead to a strong rally or a correction of the broken large-scale pattern, but is now showing some bullishness when it comes to the future outlook. After a test of the bottom boundary, the pair is now reaching towards the top of the pattern at 1.0703 and if it stays there for repeated tests, we would expect a break above which could kick off a decent rally.
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