The US Dollar has appreciated by 1.62% in value against Swiss Franc since the end of January. A breakout occurred through the upper boundary of a junior descending channel pattern during last week’s trading sessions.
Given that a breakout has occurred, the USD/CHF currency pair will most likely continue to trade bullish during the following trading sessions. The potential target for bulls would be 0.9878.
However, the currency exchange rate is expected to make a brief downside retracement towards a support cluster formed by the weekly PP and the monthly R1 at 0.9747 within this week’s trading sessions.
