The US Dollar has been declining in a descending channel pattern against the Swiss Franc since the last three months. The currency pair hit a five-year low at 0.9050 on August 5.
The exchange rate bounced off from the bottom border of the descending channel last week. Most likely, the USD/CHF pair could target the upper line of the channel pattern at 0.9250 during the following trading sessions.
However, the 100– period simple moving average at 0.9201 could provide resistance for the currency exchange rate in the shorter term.
