USD/CHF 1H Chart: Channel Up

Source: Dukascopy Bank SA
© Dukascopy Bank SA
The U.S. Dollar has been rebounding against the Swiss Franc since late January when USD/CHF gathered momentum for a climb and embarked on a formation of the channel up pattern, the limits of which have been smoothing the pair's fluctuations for 107 hours already.
The breakout that may have taken place several hours earlier when the pair dived below its 50-hour SMA at 0.9036 and approached the lower trend-line of the corridor did not materialize as USD/CHF unexpectedly bounced off the pattern's support and now is expected to prolong its winning streak since more than 53% of market players are bullish on the pair.
© Dukascopy Bank SA
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