The resistance level at 0.9700 has finally broken the upside. The next targets would be the resistance levels at 0.9750 and 0.9800 (which would require a strong buying pressure to continue). There may be some pullbacks along the way, but bulls would be able to remain victorious.
The situation in the market remains upbeat. There is a Bullish Confirmation Pattern in the 4-hour chart and the Williams’ % Range period 20 is completely the overbought territory. The EMA 11 is above the EMA 56.
The material has been provided by InstaForex Company – www.instaforex.com
USD/CHF
The resistance level at 0.9700 has finally broken the upside. The next targets would be the resistance levels at 0.9750 and 0.9800 (which would require a strong buying pressure to continue). There may be some pullbacks along the way, but bulls would be able to remain victorious.
The situation in the market remains upbeat. There is a Bullish Confirmation Pattern in the 4-hour chart and the Williams’ % Range period 20 is completely the overbought territory. The EMA 11 is above the EMA 56.
The material has been provided by InstaForex Company – www.instaforex.com
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