FX:CADCHF   Canadian Dollar/Swiss Franc
CAD/CHF 4H Chart: Channel Up

  • The Canadian Dollar is appreciating against the Swiss Franc in the medium-term ascending channel.
  • The pattern started to form shortly after the currency exchange rate left a descending triangle pattern and started to move in a new uptrend.

  • For the moment, the channel is made from four confirmation points, which means that it has fully formed.
  • But the fact that this formation took almost a month suggests that the upcoming dissolution might also take several weeks.

  • In the short-run, the pair is expected to bounce off from a combined support level set up by the 55-hour SMA, the lower trend-line and the 100-hour SMA.
  • t should be noted that both technical indicators have been moving along the pattern’s bottom edge and more than once forced the Loonie to make a rebound.
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