The US Dollar has been constrained by a junior ascending channel against the Swiss Franc. The pair bounced off the lower boundary of its channel on February 16 and has since maintained the ascending pattern.
The exchange rate has been trading within the range of a resistance cluster set by the 55-hour simple moving average and the weekly pivot point and a support which is the weekly S1.
If the USD/CHF currency pair moves past the resistance cluster at 0.9497, the nearest target could be the upper boundary of a medium-term triangle where the monthly R1 is located.
