The Canadian Dollar has been depreciating against the Swiss Franc within a descending channel pattern since the middle of February. As apparent on the 4(H) chart, the CAD/CHF currency pair has already surpassed the 0.6900 region.
It is important to note that the exchange rate is pressured by the 50—period SMA, currently located circa 0.6953. Thus, it is likely that some downside potential could prevail in the market within the following trading sessions.
However, if the given channel pattern holds, the currency exchange rate could make a slight upward movement during the following trading sessions.
