The USD/CHF found support at 0.9498 in last week’s trading session and formed a bullish engulf pattern on the 4 hours chart which opened the door for the bulls to buy the pair to as high as 0.9686 and then started to consolidate.

Initial bias this week remains on the upside as 21 and 55 EMA remains freshly crossed to the north in the 4hours time-frame and also SSRC still shows more bullish momentum is expected in the pair. A confirm break of 0.9686 resistance (last week’s high) will bring further rise in the pair to 0.9785 resistance.

USDCHFH4

Leave a Reply

Your email address will not be published. Required fields are marked *

*