USD/CHF 1H Chart: Channel Up

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
USD/CHF started to form a channel up pattern on August 22, when the pair dived under its 200-hour SMA to approach a one-week low on August 27. After that, USD/CHF gained momentum for appreciation and topped almost a two-month high of 0.9456, a stab to which created a strong selling pressure on the pair. Currently, the currency couple is trading slightly above its 200-hour SMA at 0.9360 and may bounce off this mark to attempt to surpass a daily R1 at 0.9370. Traders also back up the bullish outlook, as 64.60% of them bet on a jump of the pair.
© Dukascopy Bank SA
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