USD/CHF 4H Chart: Channel Up

Source: Dukascopy Bank SA
© Dukascopy Bank SA
The US Dollar is regaining strength against the Swiss Franc in a medium term ascending channel. However, the currency exchange rate still remains on a larger scale in a descending channel, which represents the fundamental uncertainty caused by US President Donald Trump. In addition, the currency pair is affected by the Fibonacci retracement levels, which are measured by connecting the 2016 high and low levels. The rate is set to move higher in accordance with the medium term ascending channel until it reaches the dominant pattern's upper trend line during the next week. Due to the fact that the exact spot of the bounce off is hard to predict, traders are advised to constantly monitor the pair.
© Dukascopy Bank SA
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