USD/CHF - continued bullish momentum for USD this week?
USD/CHF price action saw exceptionally bullish momentum last week, climbing approx. 200 PIPS. As price has respected a strong 4H trend line consistently last week, and with price closing above the lows created in March, we will be looking for continuation of this bullish trend. We will be looking at a zone of upcoming confluence between the 4H trend line and the resistance now turned support at 0.9270. Initial price target of 0.9380.
If price closes below the 4H trend line, our analysis will need to be re-evaluated, as stronger pullback may come in to play as price action takes time to breathe.
If price closes below the 4H trend line, our analysis will need to be re-evaluated, as stronger pullback may come in to play as price action takes time to breathe.