The US Dollar has declined about 2.45% in value against the Swiss Franc since August 1. The currency pair reached a seven-week low at 0.9693 on during last week’s trading sessions.
As for the near future, it is likely that the USD/CHF exchange rate will regain some of its lost positions. The potential target for bulls would be near a resistance cluster formed by the 50.00% Fibonacci retracement level and the combination of the weekly and the monthly PPs at 0.9819.
However, technical indicators demonstrate that the currency exchange rate might continue its decline within this week’s trading sessions.
