The US Dollar has declined more than 190 pips or 1.99% against the Swiss Franc since April 6. The currency pair tested the 200– period simple moving average at 0.9623 on April 16.
As for the near future, the USD/CHF exchange rate could continue to trade in the dominant ascending channel pattern. Bulls could drive the price towards the psychological resistance level at 0.9900 area.
On the other hand, the currency exchange rate might make a U-turn from the 0.9800 area and continue to trade bearish during the following trading sessions.
