USD/CHF 1H Chart: Rising Wedge

Source: Dukascopy Bank SA
© Dukascopy Bank SA
A considerably sharp advance performed by UDS/CHF took the currency pair to the highest level in more than a year at 0.9597. During last two weeks, starting 22nd of September, the instrument embarked upon formation of the 141-bar long rising wedge pattern.
However, to continue its bullish trend in the future, the USD/CHF cross has not only to re-approach the recent high but also to breach this level, which is represented by the major level and also the daily R1. The 4H technical studies apply to this scenario, as they point to the north. Moreover, the SWFX market participants also expect the up-trend to continue, as 62.58% of them are bullish on the pair.
© Dukascopy Bank SA

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