USDCHF - A MULTI-YEAR TREND REVERSAL?

USDCHF appears to have broken through a very important trendline going back as far as 2006. This week's gathering strength in the dollar pushed this pair over the descending trendline on the monthly timeframe . The closest resistance level is at the January high of 1.0240. There's a good chance the price will bounce off this level and consolidate for a bit but if we see a rate increase by the Fed in December (a fairly likely scenario) then we could see a strong push through the blue zone. And if that happens then we could be going all the way up to the 1.1500 area before we encounter any significant resistance. A strengthening dollar combined with a weakening franc should provide us with plenty of good opportunities in 2016.

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