USD/CHF 1H Chart: Two scenarios likely

Source: Dukascopy Bank SA
Indicator4H1D1W
MACD(12;26;9)BuyBuyBuy
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)BuyBuyBuy
SAR(0.02;0.2)SellBuyBuy
Aggregate

The US Dollar has been appreciating against the Swiss Franc since the end of October. This movement has been bounded within the medium-term ascending channel.  

As apparent on the chart, the USD/CHF exchange rate is testing the upper channel line. From a theoretical perspective, it is likely that a reversal south could occur in the nearest future, and the rate would target the lower channel line located circa 0.9900.  

However, note that the currency pair is supported by the 55-, 100– and 200-hour moving averages. Thus, the pair could breach the given trend in the nearest future, as well raise to the monthly R2 at 1.0098.

Actual Topics

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.