The American Dollar is losing value against the Swiss Franc in a medium-term descending channel.
The pattern started to form practically two months ago after a three day long depreciation of the Greenback, which put the currency rate below the 55-, 100- and 200-period SMAs.
In the end of the previous week the pair has reached the second reaction high and, starting from Monday, began to gradually exit from a triple top formation.
More specifically, the first hours of Tuesday trading session already showed that the pair has bypassed the weekly S1 at 0.9603.
In accordance with technical theory, the rate is expected to continue the downfall approximately until the 0.95601 level, which located slightly below the weekly S2.