The US Dollar has declined by 2.94% against the Swiss Franc since December 1. The currency pair breached the lower line of a descending channel pattern at 0.8825 on December 8.
All things being equal, the exchange rate could continue to edge lower during the following trading sessions. A breakout through the lower boundary of the descending channel pattern is likely to occur.
However, a support cluster formed by the 50– and 100– period SMAs at the 0.8871 area could provide support for the USD/CHF currency exchange rate in the short-term.
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