The US Dollar has surged by 4.74% against the Swiss Franc since the middle of February. The currency pair breached a six-month high at the 0.9300 level during yesterday’s trading session.
Technical indicators suggest buying signals on the 4H and daily time-frame charts. Most likely, the exchange rate could continue to edge higher in an ascending channel pattern during the following trading sessions. The potential target for the USD/CHF pair would be near the 0.9600 level.
However, the weekly resistance level at 0.9390 could provide resistance for the currency exchange rate in the shorter term.
