HomeContributorsTechnical AnalysisCAD/CHF 4H Chart: Sets For Breakout

CAD/CHF 4H Chart: Sets For Breakout

The CAD/CHF exchange rate has been moving in a descending channel since early May. The currency pair pullback from the upper dominant ascending channel pattern on May 10 and followed by a period of decline.

The Canadian Dollar reached the lower boundary of both the dominant and the junior patterns and made a U-turn north. As a result, the pair dashed through the 55-, 100-, and 200-hour SMAs.

As for near future, a breakout from the junior pattern could be expected during the following trading sessions. However, technical indicators suggest that bears are likely to come into play today.

Dukascopy Swiss FX Group
Dukascopy Swiss FX Grouphttp://www.dukascopy.com/
This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.

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