FX.co - USD/CHF analysis for August 31, 2022 - Strong upside momentum and potential for bigger growth

2022-08-31T11:20:31

Relevance until2022-09-01

Technical analysis:

USD/CHF analysis for August 31, 2022 - Strong upside momentum and potential for bigger growth

USD/CHF has been trading upside as I expected. Upside momentum is very strong and I see potential for further rally.

Trading recommendation:

Due to the breakout of the early morning triangle pattern, I see further growth towards next major upside level.

Watch for potential buying opportunities on the intraday dips with the upside objectives at the price of 0.9860 and 1.0003

Stochatic oscillator is showing fresh upside breakout, which is good sign for further rise.

Key support is set at the price of 0.9730

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

Analytical expert

Petar Jacimovic

FX.co ★ USD/CHF analysis for August 31, 2022 - Strong upside momentum and potential for bigger growth