USD/CHF 4H Chart: Poised for a breakout

Source: Dukascopy Bank SA

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

The US Dollar has been constrained by a descending channel against the Swiss Franc after hitting a resistance at the 200—hour simple moving average on January 10. 

The currency pair has been bouncing between the upper and lower boundaries of the junior channel. However, there could be a breakout through the upper boundary during the next trading days. 

If the USD/CHF pair moves past a resistance cluster set by the combination of the 55- and 100– hour SMAs,  the rate could be heading for the weekly R1 at 0.9397.

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