Dukascopy Bank Team
Dukascopy Bank SA
CHF/CAD 4H: Decline likely to continue
The Swiss Franc has declined by 2.48% against the Canadian Dollar since the middle of July. The currency pair was pressured the lower by the 200– period simple moving average.
Technical indicators suggest selling signals on all time frames charts. Most likely, the CHF/CAD exchange rate could continue to edge lower during the following trading sessions.
However, a potential upside reversal could occur from the weekly support level at 0.6818 in the shorter term.
CHF/JPY 4H: Bullish momentum to continue
The Swiss Franc has surged by 250 pips or 2.21% against the Japanese Yen since July 16. The currency pair tested the upper boundary of an ascending channel pattern at 115.51 on July 23.
All things being equal, the exchange rate could continue to edge higher during the following trading sessions. A breakout through the upper line of the ascending channel pattern could occur.
Furthermore, technical indicators demonstrate buying signals on all time-frame charts.
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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