USD/CHF decreased a little in the short term but the bias remains bullish and the price may resume its uptrend. It has registered a new higher high of 0.9445 level after passing above 0.9416 former high, resistance.
The pair could decrease only to retest 0.9416 before jumping higher again. 0.9375 is seen as strong support, a downside obstacle. USD/CHF could approach this level only if it drops and stabilizes under 0.9416.
Technically, the outlook is bullish, USD/CHF could continue to increase despite any temporary declines as long as it stays above the uptrend line.
Trading Conclusion!
Jumping above 0.9445 former high represents a buying signal. So, USD/CHF could resume its growth if it flys above this level. 0.9500 psychological level could be used as an upside target.
The material has been provided by InstaForex Company – www.instaforex.com
USD/CHF decreased a little in the short term but the bias remains bullish and the price may resume its uptrend. It has registered a new higher high of 0.9445 level after passing above 0.9416 former high, resistance.
The pair could decrease only to retest 0.9416 before jumping higher again. 0.9375 is seen as strong support, a downside obstacle. USD/CHF could approach this level only if it drops and stabilizes under 0.9416.
Technically, the outlook is bullish, USD/CHF could continue to increase despite any temporary declines as long as it stays above the uptrend line.
Trading Conclusion!
Jumping above 0.9445 former high represents a buying signal. So, USD/CHF could resume its growth if it flys above this level. 0.9500 psychological level could be used as an upside target.
The material has been provided by InstaForex Company – www.instaforex.com
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