USD/CHF 1H Chart: Channel Up

Source: Dukascopy Bank SA
© Dukascopy Bank SA
Since mid-July, the U.S. Dollar has been appreciating against the Swiss Franc and on Jul 18 the pair embarked upon formation of the bullish tunnel that now is over 90-bar long.
After a retreat that followed a rally to a six-month high of 0.9038 lying on the upper limit of the pattern, the pair was unable to re-approach the pattern's resistance and now is sitting slightly above the 50-hour SMA at 0.9023. Technical data suggests the pair may witness some gains in the short-term, but the indicators fail to shed the light on the pair's moves in a longer perspective.
© Dukascopy Bank SA
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