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  • EUR/CHF’s 4-hour chart shows a descending triangle pattern. 
  • A breakout could yield a re-test of recent highs. 

EUR/CHF is currently trading at 1.0781, representing a 0.20% gain in Asia. 

The pair, however, remains trapped in a descending triangle, as seen on the 4-hour chart. The RSI on the 4-hour chart is yet to exit a sideways channel. As such, the immediate bias remains neutral. 

A move above 1.0788 would confirm a triangle breakout and open the doors for a retest of 1.0839 – the Aug. 3 high – above which, the focus would shift to 1.0915 (June 5 high). 

On the downside, the area around 1.0735, which has recently acted as strong support, is the level to beat for the bears. 

4-hour chart

Trend: Bullish above 

Technical levels