USDCHF - Breakout to a new high
USDCHF (1H) - short-term bullish bias
The pair has sliced through the major resistance level of 0.9945 and we can expect a continuation on the upside, before the price hits the daily resistance of 0.9975. The moving averages and the trend line are likely to offer support when and if the price makes a retreat. The RSI is attempting an excursion into the over-bought realm, it would be wiser to buy at a pullback.
Key support: 0.9910/0.9890
Key resistance: 0.9960/0.9975
The pair has sliced through the major resistance level of 0.9945 and we can expect a continuation on the upside, before the price hits the daily resistance of 0.9975. The moving averages and the trend line are likely to offer support when and if the price makes a retreat. The RSI is attempting an excursion into the over-bought realm, it would be wiser to buy at a pullback.
Key support: 0.9910/0.9890
Key resistance: 0.9960/0.9975
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