USD/CHF 1H Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
The Swiss Franc has been appreciating against the U.S. Dollar since November 7, when the pair peaked at 0.9250. Since then the pair has lost more than 200 pips and at the moment of writing was trading at 0.9063, just 23 pips above the pattern's support line. This move would not be interpreted as usual– as a "buy" signal, as 74% of opened positions are short. Meanwhile, aggregate indicators on 1H, 4H and even daily charts, are pointing at depreciation, and a move to pattern's support can also be expected. While the outlook is bearish, an alternative scenario could be a move to a level located at 0.9109, represented by a 200-hour SMA and a 38.20% Fibonacci retracement.
© Dukascopy Bank SA
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