The Canadian Dollar has depreciated about 1.80% in value against the Swiss Franc since last week’s trading sessions. The currency pair tested the weekly S1 at 0.7434 on Thursday.

The CAD/CHF exchange rate is currently trading near the upper boundary of a descending channel pattern at 0.7480 and could be set for a breakout.

If the breakout occurs, a surge towards a psychological resistance level at 0.7550 could be expected during next week’s trading sessions.

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However, if the descending channel holds, the currency exchange rate will most likely maintain the channel pattern in the nearest future.

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