USD/CHF 4H Chart: Reveals medium channel

Source: Dukascopy Bank SA

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

Recent development s on the USD/CHF currency exchange rate's charts have pressured for an update of the situation. The main reason for the update is the fact that the previously drawn channel up pattern has been broken.

In general the reason for the breaking of the pattern was the fact that there actually exists a medium scale channel down pattern. The ascending channel was just a representation of the junior surge in the borders of the recently discovered pattern.

In regards to the short term, the pair is set to meet with the support of a dominant channel up pattern near the 0.9930 mark. A rebound is to be expected.

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