The Canadian Dollar movement against the Swiss Franc has been guided by one month descending channel. The currency pair reversed south after hitting the upper boundary of a dominant channel.
This movement could be considered a corrective move down toward the lower boundary of the dominant pattern. Moreover, the 55-hour simple moving average has been directing the pair lover.
Everything being equal, the CAD/CHF currency exchange rate is likely to continue to depreciate until it reaches the southern border of the aforementioned dominant descending channel.
