USD/CHF
The pair remains bullish in the short term (and its fate is largely subject to whatever happens to EURUSD). Price went upwards last week, almost reaching the resistance level at 0.9650, and then getting corrected lower. The short-term bullishness will be rendered ineffectual only when price goes below the support level at 0.9500.
On the other hand, a movement above the resistance level at 0.9700 will result in a stronger bullish bias on the market. There is a Bullish Confirmation Pattern in the 4-hour chart, and thus, 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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