HomeContributorsTechnical AnalysisUSD/CHF 4H Chart: Poised For A Breakout

USD/CHF 4H Chart: Poised For A Breakout

The US Dollar has been constrained by a descending channel against the Swiss Franc after hitting a resistance at the 200—hour simple moving average on January 10.

The currency pair has been bouncing between the upper and lower boundaries of the junior channel. However, there could be a breakout through the upper boundary during the next trading days.

If the USD/CHF pair moves past a resistance cluster set by the combination of the 55- and 100– hour SMAs, the rate could be heading for the weekly R1 at 0.9397.

Dukascopy Swiss FX Group
Dukascopy Swiss FX Grouphttp://www.dukascopy.com/
This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.

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