USD/CHF 4H Chart: Channel Up
The US Dollar is regaining ground against the Swiss Franc in a channel up pattern. Most recently the currency pair bounced off the resistance of the ascending channel. That event was also the cause of the discovery of the pattern. Most likely the currency exchange rate will decline until it meets with the lower trend line of the ascending channel.
Coincidentally that might occur at the 23.60% Fibonacci retracement level of the 2016 low and 2017 high levels at the 0.9657 level. Afterwards the currency pair is highly likely going to continue the surge. In that case it will go upwards to the strong resistance cluster, which lasts from 0.9780 to 0.9791.
Coincidentally that might occur at the 23.60% Fibonacci retracement level of the 2016 low and 2017 high levels at the 0.9657 level. Afterwards the currency pair is highly likely going to continue the surge. In that case it will go upwards to the strong resistance cluster, which lasts from 0.9780 to 0.9791.
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