HomeContributorsTechnical AnalysisEUR/CHF 4H Chart: Remains Near Support Cluster At 1.1401

EUR/CHF 4H Chart: Remains Near Support Cluster At 1.1401

The common European currency has been trading in a long-term descending channel against the Swiss Franc. This movement began after the currency pair reversed from the upper boundary of the channel pattern at 1.1873 on May 15.

However, the exchange rate has increased its trading range during the past few weeks. Currently, the pair is trading near the up border of the long-term descending channel at 1.1450 and could be set for a breakout.

If a support cluster formed by the 50-hour SMA and the weekly pivot point at 1.1405 holds, the next target for the currency exchange rate will be 1.1484 during the following trading sessions.

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.

Featured Analysis

Learn Forex Trading