The American Dollar is trading against the Swiss Franc simultaneously in descending and ascending channels.
The latter pattern consists of four confirmation points, where the last one represents a rebound of the exchange rate from the monthly PP at 0.9613.
In the upcoming hours it will become clear, which formation is going to guide further movement of the currency pair.
Most probably, strength of the older channel is going to prevail.
This a assumption is on the fact that the northern passage is protected by combined resistance level set up by the 100- and 200-hour SMAs in conjunction with the weekly PP at 0.9668.
Moreover, the subsequent downfall will enable the pair to finally reach the lower edge of the third, dominant channel down.