USD/CHF
There is a strong bullish signal on USD/CHF, which follows the recent consolidation in the market. Price has gained about 120 pips, since testing the support level at 0.9450. Now above the support level at 0.9550, price can go towards the resistance level at 0.9600, breach it to the upside, as another resistance level at 0.9650 is aimed at.
The EMA 11 has crossed the EMA 56 to the upside and the Williams' % Range period 20 is in the overbought region. There is a Bullish Confirmation Pattern in the 4-hour chart and it would likely become clearer and clearer as price journeys upwards.
The material has been provided by InstaForex Company - www.instaforex.com
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