USD/CHF
The resistance level at 0.9700 has been tested several times, but the market has not been able to breach it to the upside. About 110 pips have been gained so far this week, and there is much room for it to go further upwards. The resistance lines at 0.9700, 0.9750 and 0.9800 may be breached later this week.
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 around 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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