USD/CHF 4H Chart: Channel Up

Source: Dukascopy Bank SA
© Dukascopy Bank SA
Just recently a bullish channel has formed, as USD/CHF found a bullish momentum slightly above the monthly PP at 0.9018, after a period of consolidation. Today the pair opened near the upper boundary of the pattern; however, it was not able to hold its positions or to reach the resistance level and fell slightly lower. Nevertheless, the shorter term technicals are bullish, thus the upper-trend line should be approached in the near term. Also, the longer term technical indicators are favouring the Greenback. Finally, the pair's sentiment is slightly bullish, with 55.24% of the traders expecting a further advance.
© Dukascopy Bank SA
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