USD/CHF 4H Chart: Reconfirms Pattern

USD/CHF 4H Chart: Reconfirms Pattern

The USD/CHF chart does not require additional drawing, as the pair has been trading while being influenced by technical indicators and lines, which were drawn already last week.

Namely, the pair has bounced off the resistance of the monthly R1 at 0.9640 and retreated down to the lower trend line of the dominant channel up pattern. The currency exchange rate has once more confirmed the location of the trend line by bouncing off of it.

In regards to the short term future, the pair has passed the 55-period SMA and the weekly PP, near 0.96 mark. This indicates at an upcoming surge back up to the mentioned monthly resistance

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