The common European currency has been trading in a medium-term triangle pattern against the Swiss Franc. The currency pair has been bouncing between the upper and bottom borders of the triangle pattern since May.
The exchange rate has been moving sideways during the past few weeks. Furthermore, the 55– days simple moving average has been driving the rate down with this time period.
Given that the EUR/CHF currency exchange rate has moved closer to the lower boundary of the said triangle pattern, a breakout is likely to occur during the following trading session.
