USDCHF 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.
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.
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