The US Dollar has been moving in an ascending channel pattern against the Swiss Franc since mid-September. The currency pair reversed from its lower boundary at 0.9550 on September 21 and followed by a bullish sentiment.
The exchange rate broke the channel pattern at the end of yesterday’s trading session.
Given that a breakout had occurred through the bottom border of the two months ascending channel, it is likely that the currency exchange rate will continue its downward movement during the following trading sessions.
The potential target for the USD/CHF currency pair will be at 0.9706.
