The US Dollar declined by 108 pips or 1.18% against the Swiss Franc during last week’s trading sessions. The currency pair breached the 50-, 100– and 200– period SMAs last week.
All things being equal, the exchange rate is likely to continue to decline in a descending channel pattern during the following trading sessions. The potential target for the USD/CHF pair would be near the weekly S2 at 0.8966.
However, the weekly pivot point at 0.9075 could provide support for the currency exchange rate in the shorter term.
