FX.co ★ Daily analysis of USD/CHF for May 11, 2018

USD/CHF

This is a ranging market as the instrument ranges between the support level at 1.0000 (a great psychological level) and the resistance level at 1.0050. The consolidation has been going on for a few days, but there would soon be a breakout in the market, which would most probably favor bulls.

The situation in the market has largely remained unchanged this week. The EMA 11 is above the EMA 56, and the Williams' % Range period 20 is in the overbought region. There is a Bullish Confirmation Pattern in the market.