USD/CHF 4H Chart: Channel Down

Source: Dukascopy Bank SA
© Dukascopy Bank SA
Since mid-January, the U.S. Dollar has been following a pronounced downside trend against the Swiss Franc; the decline has been developing within the bounds of the bearish channel. The pair has been bounded by the tunnel's limits for 356 hours and up to now it has not shown any willingness to break through the pattern trend-lines.
At the moment, the pair is fluctuating slightly below the ‘golden cross' that took place few hours earlier and may facilitate an advance before long. This is further reinforced by the SWFX data, which indicates about 59% of market players are bullish on the pair.
© Dukascopy Bank SA
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