The EUR/CHF currency pair has appreciated by about 1.13% in value since the beginning of October. The exchange rate breached both the 50-, 100– and 200– hour SMAs during this period.
As for the near future, the Euro will likely continue to edge up against the Swiss Franc. A potential breakout through the upper line of a four-month descending channel could occur.
If the breakout occurs, the currency exchange rate might enter a bullish market in the longer term.
However, the pair would have to surpass the resistance cluster at 1.0995 before it enters the bullish trend.
