USD/CHF 1H Chart: Ascending Triangle

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Source: Dukascopy Bank SA
USD/CHF climbed inside the bounds of a channel pattern, but hit two-week highs at 1.0035 where it did not manage to rise above, creating an ascending channel pattern which might break to lead a steeper motion up. Due to the lack of previously confirmed significance of the level, the pair should not have serious trouble to overstep the trend-line, but if it does not manage to do that, we would eye 1.0008 for a range to be established. The bottom trend-line of the triangle should, however, still have some saying in where the pair faces stronger demand, and rightly so, because it is bolestered by a cloud resistance.
© Dukascopy Bank SA
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