USD/CHF 1H Chart: Broadening Rising Wedge

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
The USD/CHF currency pair has just approached the lower-trend line of the pattern and is preparing to test it in the nearest future. We assume that pair's ability to cross this important support level will determine its future movement. If the level is breached, we can expect the U.S. currency to reach weekly and daily support at 0.9548/47. However, market participants disagree with this opinion, being that 63% of all opened positions are long at the moment. Moreover, short-term technical indicators give neither bullish nor bearish signals. If the currency pair manages to bounce from the lower boundary of the pattern, we will wait for it to approach the weekly pivot point at 0.9619.
© Dukascopy Bank SA
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