|USD/CHF : Take up of the bullish trend|
|The Swiss Franc strongly depreciated against the US Dollar. The resistance at 0.96 has been broken on a strong bullish rally, giving us a buy signal. This last bearish movement who occured on the pair USD/CHF has been fully retraced.|
We expect a pullback on the former resistance at 0.9670 before a the take up of the bullish trend. The next resistance is at 0.9737 (high of June 1st). In case of breakout of this level, the movement should continue towards 0.98.
0.96 stay our key level. If the price get back below this level, a sell signal will be given.
Update the 07/09 - The US Dollar has continued its bullish rally against the Swiss Franc and has tested last friday the resistance at 0.98. Given the amplitude of the last bullish movement, the price should have the need to breath and a pullback on 0.9738 is strongly possible before a take of the bullish movement towards 0.99.
Update the 07/13 - The pair USD/CHF continues its bullish trend. Yesterday, the resistance at 0.98 has been broken, giving us a new buy signal. A bullish channel seems to lead the movement in h4. In h1, a bullish slant appear (purple line). In case of breakout of this slant, a pullback on the support at 0.98 is expected. The breakout of 0.99 will give a new buy signal. We advise to trade only long positions as far as 0.9770 is support. If the price get back below this level, we will be neutral between 0.9738 and 0.9770.
Update the 07/19 - Due to the breakout of the bullish slant in h1 (purple line), a correction occured on the pair USD/CHF who is currently testing the support at 0.9770. This correction is taking place into a bearish channel in h1 (brown lines). We stay bullish as far as 0.9766 is support. The exit of the bearish channel in h1 will indicate a new bullish wave. Then, the resistance at 0.99 should be reached. In case of return below 0.9766, we will be neutral between this level and 0.9737.
|Complete sheet of the pair USD/CHF - Previous USD/CHF Analysis|
|Chart of the pair USD/CHF - Timeframe 4H|
|Chart of the pair USD/CHF - Timeframe 1H|
USD/CHF Live Chart - Timeframe : 4h