USD/CHF 4H Chart: Reveals Dominant Channel

Note: This section contains information in English only.
Source: Dukascopy Bank SA

Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Sell
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3) Sell Sell Sell
Alligator (13; 8; 5) Buy Buy Neutral
SAR (0.02; 0.2) Buy Buy Buy
Aggregate

The US Dollar recently revealed a dominant pattern against the Swiss Franc. As the US GDP data sets were released the currency exchange rate broke the previously dominant rising wedge pattern. However, the lower trend line of the wedge is the same as in the dominant ascending channel. 

Meanwhile, the currency pair is surging in a medium term channel up pattern. Although, the channel has already hit the upper trend line of the dominant pattern, which indicates that a medium term decline might take place soon. In that case the pair should decline down to the support cluster below the 0.99 mark. 

However, the pair might find strong enough support in the cluster near the 0.9950 mark.

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