USD/CHF 1H Chart: Channel Up

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
USD/CHF mostly followed bearish trend during the first two months of the autumn but the very end of October was marked by an unexpected jump of the pair. It seems that a previous retreat aided the currency pair to gain enough strength for a sharp advance that started on October 30 when USD/CHF commenced formation of a channel up pattern. However, now USD/CHF took a break and declined slightly to the lower boundary of the pattern. Market players expect the pair to continue falling, being bearish in 57.56% of cases. If traders' outlook comes true, USD/CHF may attempt to breach the pattern that may lead to on-going weakness of the pair.
© Dukascopy Bank SA
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