USD/CHF 1H Chart: Channel Up

22 авг. 2017 г.

USD/CHF 1H Chart: Channel Up

• The American Dollar is trading against the Swiss Franc simultaneously in descending and ascending channels.
  
• The latter pattern consists of four confirmation points, where the last one represents a rebound of the exchange rate from the monthly PP at 0.9613.
  
  
• In the upcoming hours it will become clear, which formation is going to guide further movement of the currency pair.
  
  
• Most probably, strength of the older channel is going to prevail.
  
• This a assumption is on the fact that the northern passage is protected by combined resistance level set up by the 100- and 200-hour SMAs in conjunction with the weekly PP at 0.9668.
  
• Moreover, the subsequent downfall will enable the pair to finally reach the lower edge of the third, dominant channel down.