USD/CHF 1H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
The US Dollar is at high risk of depreciation against the Swiss currency, provided that this currency pair is struggling to cope with bearish pressure near the lower boundary of the channel up pattern. In addition to that, the Greenback is heavily overbought in the SWFX market, as almost three fourths of all positions are long. If there is a drop below the weekly pivot point, which is guarding the pattern's boundary, then we are going to estimate a sell-off in the direction of 0.9650, namely the second weekly support line. However, if the bulls escape the narrow range of 0.9723-0.9747, the pair will get ready for a rally up to the 0.98 mark (April 24 high), followed by the pattern's resistance at 0.9857.
© Dukascopy Bank SA
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