USD/CHF 1H Chart: Channel Down

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
The short-term SMA dived under the 200-hour SMA on September 10, inciting a sharp depreciation of the pair that started to shape a channel down pattern on September 13. The currency couple attempted to broke the upper boundary of the pattern on September 17 but it did not manage to overcome heavy selling pressure and was forced to drop to the current level lying near the lowest mark since February of 0.9092. Despite being traded in the bearish pattern, the pair may regain strength in the nearest future as almost 73% of market participants are bullish on USD/CHF.
© Dukascopy Bank SA
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