The US Dollar has surged by 129 pips or 1.34% against the Swiss Franc since May 1. The currency pair breached the 50-, 100– and 200– period SMAs during yesterday’s trading session.
The exchange rate will most likely continue to edge higher within this week’s trading sessions. A breakout through the upper boundary of a junior descending channel could occur.
However, a resistance cluster formed by the weekly R1 and the monthly R1 near the 0.9750 area could provide resistance for the USD/CHF currency exchange rate in the short-term.
