FX.co ★ USDCHF potnetial towards 0.95 as price breaks out of triangle pattern.

For the last few days we mentioned many times the triangle pattern USDCHF was trading inside. Today price is breaking above 0.9220 resistance and there is no sign that this break out is a fake one. Price is making higher highs and higher lows. Bulls are in control of the trend as long as price is above 0.9180.

Black lines - triangle pattern

Blue lines- expected size of rise

Red line - short-term support trend line

USDCHF is providing a bullish signal today by breaking above 0.9220. Support is found at 0.9170-0.9180. As long as price is above this level, bulls will be in control of the trend and we will be expecting a move towards 0.95 equal to the height of the base of the triangle.