EUR/CHF Double Bottom Horizontal Channel

The weekly chart of EUR/CHF currency pair is showing a rather rare pattern — a horizontal channel formed by the support and resistance levels. The support level is a double bottom with two lines close to one another. The bearish breakout through such support level can be a very strong signal. EUR/CHF is known to be a rather stable pair as both currencies are European but the Swiss franc (CHF) tends to gain during elevated risk-aversion, while the euro — on higher appetites for risk. You can click on the image below to see the full-size chart:


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