USD/CHF 4H Chart: Channel Up

Source: Dukascopy Bank SA
© Dukascopy Bank SA
Though there are some concerns regarding the strength of the bullish momentum, as previously the trends did not last for too long, the bias towards USD/CHF is nevertheless positive. The outlook is also reinforced by the technical studies. The exchange rate is expected to rebound from the support trend-line at 0.9415, break through the monthly R1 and May high and subsequently commence a correction in the vicinity of the upper boundary of the channel at 0.96. As for the longer-term prospects, the US Dollar could target 98.65 cents. As for the distribution between the bulls and bears, the former take up 70% of the SWFX market.
© Dukascopy Bank SA
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