CAD/CHF 1H Chart: Rate guided by several patterns

Note: This section contains information in English only.
Source: Dukascopy Bank SA

Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3) Neutral Sell Sell
Alligator (13; 8; 5) Buy Buy Buy
SAR (0.02; 0.2) Sell Buy Buy
Aggregate

CAD/CHF has been moving in a channel down since early September. The pair diminished its trading range in the given pattern during the first half of December, but managed to reach its upper boundary once again mid-Wednesday. 

The pair has since found support at the monthly R1 and the 100-hour SMA at 0.7780. Given that the weekly PP is likewise located nearby, bulls might still push higher in this session and re-test the senior channel near the 0.7840 mark. 

By and large, technical signals point to a possible price decrease within the upcoming week. This fall might not be steep due to several strong support levels, but it should nevertheless guide the Canadian Dollar towards the 0.7650 area in the medium term.

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