USD/CHF 4H Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
Along with EUR/GBP currency pair, the USD/CHF cross has been hovering inside the boundaries of the bearish channel, only though the pattern's time frame dates back to the first weeks of March. On the contrary, USD/CHF is now undergoing a period of bullish correction, while the pair is successfully moving in the direction of the upper trend-line. With neutral technical indicators in place, SWFX market participants are holding long opened trades in 73% of all cases. However, the US Dollar is expected to face a considerable resistance zone just below the upper boundary (monthly PP; 200-period SMA, weekly R2), which may put significant pressure on pair's bulls and reverse the cross back to the south.
© Dukascopy Bank SA
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