During the past few weeks, the US Dollar has been depreciating heavily against the Swiss Franc after hitting a high at 0.9977 on December 8.
The USD/CHF pair has continues its bearish path, and its moving neatly in a descending channel. The 100-, and the 200—hour SMAs suggest the currency exchange rate could decline further.
In regard to the near future, a breakout could be expected either south or north. If and when it happens, the pair is likely to find resistance at the weekly R2 at 0.9162 or could find support at the monthly S1 at 0.9255.
