The US Dollar has declined by 148 pips or 1.59% against the Swiss Franc since last week’s trading sessions. The currency pair breached the 50– and 100– period SMAs during this period.
Currently, the exchange rate is trading near the lower boundary of an ascending channel pattern at 0.9142.
If the channel pattern holds, bullish traders could pressure the currency exchange rate higher during the following trading sessions.
However, technical indicators suggest that a breakout through the lower border of the ascending channel pattern could occur within this week’s trading sessions.
