FX.co ★ USD/CHF: upside continuation to be activated

USD/CHF Strong Buyers!

The USD/CHF pair developed strong growth after failing to stabilize below the uptrend line which represents a downside obstacle. You knew from my previous analysis that the price could resume its growth if it stays above the uptrend line and if it jumps above 0.9973.

Only stabilizing below the uptrend line and dropping below 0.9920 would have activated a downside movement. Now, the rate is almost to react the 1.0057 previous high which represents an upside obstacle and target.

USD/CHF Trading Conclusion!

Jumping and stabilizing above 1.0057 may signal further growth and could represent a buying opportunity.