The common European currency is trading in several channels patterns against the Swiss Franc. The most important of the pattern is the two-month ascending channel formed on September 12.
During the past week, the price level has surpassed the three SMAs and has reached the lower boundary of the two months ascending channel pattern at 1.1298.
Given that the 50-, 100-, and 200-hour simple moving averages are above the current price level, this could suggest that the decline of the EUR/CHF currency exchange rate will continue during the following trading sessions.
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