The US Dollar has increased its trading range against the Swiss Franc after the currency pair reversed from the lower boundary of a long-term ascending channel at 0.9550.
The exchange rate breached a swing high of 0.9992 during Wednesday’s session. Currently, the pair is trading near a psychological resistance level of 1.00 during the morning hours of today’s session.
Given that the currency exchange rate has breached the swing high of 0.9992, the next target for the price will be at the weekly R2 near the 1.0060 area during the following trading sessions.
However, the psychological resistance level as mentioned earlier could hinder the USD/CHF pair from reaching the said target
