USD/CHF 1H Chart: Channel Up

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
A 342-bar long channel up pattern shaped by USD/CHF originated at a three-year low of 0.8800 hit in mid-December. Since then, buying pressure has been bolstering the pair and has recently pushed it to the upper-boundary of the pattern that is lying at almost a three-month high of 0.9127.
At the moment of writing, the pair was erasing losses it encountered after a rise to the recent high. Meanwhile, according to the SWFX data, two thirds of traders believe the U.S. Dollar may continue appreciating versus the Swiss Franc.
© Dukascopy Bank SA
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