FX.co ★ USD/CHF: upside continuation above 0.8997

USD/CHF New Uptrend!

The USD/CHF pair is located at 0.8980 at the time of writing, below today's high of 0.8996. As you can see on the H1 chart, the rate jumped above the downtrend line signaling that the downtrend ended and that we may have a reversal.

Personally, I've drawn an uptrend line which represents a downside obstacle. As long as the instrument stays above it, the rate could resume its growth.

USD/CHF Trading Conclusion!

Jumping and stabilizing above 0.8997 activates further growth and is seen as a buying opportunity.