USD/CHF 4H Chart: Continued to trade South
The US Dollar has continued to trade in the same direction against the Swiss Franc since late December 2017.
The most dominant channel's support has been moved lower. Secondly, a medium-term pattern has been mapped. In addition, the medium term channel continued to move south after testing weekly pivot point level at 0.961.
Regarding the short-term future, the medium term channel is likely to be narrower until it breaches the dominant channel and finds support at 0.947.
Meanwhile, technical indicators are still in favor of a fall because the 55 – hour, 100 – hour and 200 – hour SMAs are located above the exchange rate.
The most dominant channel's support has been moved lower. Secondly, a medium-term pattern has been mapped. In addition, the medium term channel continued to move south after testing weekly pivot point level at 0.961.
Regarding the short-term future, the medium term channel is likely to be narrower until it breaches the dominant channel and finds support at 0.947.
Meanwhile, technical indicators are still in favor of a fall because the 55 – hour, 100 – hour and 200 – hour SMAs are located above the exchange rate.