FX.co ★ Daily analysis of USD/CHF for May 15, 2018

USD/CHF

The USD/CHF pair has not done much this week. Price, however, has been able to rise above the support level at 1.0000, targeting the resistance level at 1.0050 (the first target). Once the first target is breached, another resistance level at 1.0100 would be aimed at 1.0130; and this is something that requires a rise in volatility.

There is a Bullish Confirmation Pattern in the 4-hour chart, which shows the possibility of further upwards movement. Price would rise again, possibly reaching the resistance level at 1.0050 and breaching it to the upside.