USD/CHF
This pair is trading in a bull market in the short-term. Price has risen significantly this week and it is above the support level at 0.9600, going towards the resistance level at 0.9650. When the resistance level is broken to the upside, the price would go towards another resistance level at 0.9700, which is the ultimate target for Friday or next Monday.
The EMA 11 is above the EMA 56, and the Williams' % Range period 20 is in the overbought territory. There is a Bullish Confirmation Pattern in the 4-hour chart, and thus, the price is expected to go further upwards, irrespective of temporary pullbacks along the way.
The material has been provided by InstaForex Company - www.instaforex.com
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