USD/CHF 4H Chart: Channel Down

Source: Dukascopy Bank SA
© Dukascopy Bank SA
The Swiss Franc has been consistently strengthening since mid-March, and there is a good chance the tendency is going to persist. The rallies are supposed to be limited by the resistance trend-line at 0.9268, while the bears are expected to push the price through the support area at 0.9140 (weekly and monthly S1) towards the falling support line and monthly S2 level at 0.8950. The negative bias is also reinforced by the technical indicators on the four-hour chart, although the risk is that the longer-term studies are currently mixed. Meanwhile, a vast majority (71%) of the SWFX considers the bearish momentum to be already exhausted and holds long positions on USD/CHF.
© Dukascopy Bank SA
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