USD/CHF 1H Chart: Channel Up

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
A drop to a two-month low of 0.8704 in the first days of May gave USD/CHF an impulse for an advance. The pair managed to sustain the rally even after it reached a three-month high of 0.8982 that lies on the upper trend-line of the 80-bar long channel up pattern.
 In the foreseeable future, the currency couple is likely to prolong its winning streak and may try to surpass the three-month high. This is bolstered by the SWFX data—two thirds of traders are bullish on the pair. Moreover, technical data points to a possible rally in the hours to come.
© Dukascopy Bank SA
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