USD/CHF 1H Chart: Channel Up

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
The Greenback is now descending down from the bullish pattern's upper boundary located at 1.0156 for the moment. Just recently the pair has met a demand near 1.0088, which is represented by the weekly R1 and daily pivot point. Here some buoyant sentiment is going to persist, judging from signals given by technical indicators on all time frames from hourly to daily. Additionally, the pair seems to be too oversold in the SWFX market, as around 72% of all positions are short. In case more bulls come into the market, it is going to put positive pressure on the Buck in the long run. We remain bullish on the pair, but a resistance cluster at 1.0150 should still be watched closely (daily R1, weekly R2, trend-line).
© Dukascopy Bank SA
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Wed, 06 Jan 2016 14:12:04 GMT

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