USD/CHF 4H Chart: Channel Up

Source: Dukascopy Bank SA
© Dukascopy Bank SA
Similar to the previously discussed currency pair, the USD/CHF pair has recently approached the lower trend-line of the channel up pattern and is trading around the 50-period SMA at 0.9367. Last time the pair neared pattern's support in the middle of the previous week and managed to bounce from it to the upside. We tend to believe in pair's ability to do the same this time. Moreover, the idea is widely shared by market participants, who are bullish on the Dollar in more than 57% of all cases. Technical studies are undecided on the short-term time frame, while in the longer-term indicators give strong bullish signals, meaning that we can expect a rise from current trading levels.
© Dukascopy Bank SA
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