USD/CHF – Readies for a bullish break

FX:USDCHF   U.S. Dollar / Swiss Franc
  • Pair’s rebound from confluence of multiple rising trend line support at 0.9835 if followed by a day end closing above 0.9886 (50% of 1.03284-0.9444) would signal a bullish break and open doors for a rally to 0.9956 – 0.9990 (61.8% of 1.03284-0.9444).
  • On the other hand, a break below 0.9835 (daily low) would suggest bullish invalidation and could yield move lower to 0.9782 (38.2% of 1.03284-0.9444).
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