Daily analysis of USD/CHF for March 1, 2018

USD/CHF

Price has started moving upwards in a predictable manner, and it is now above the support levels at 0.9400 and 0.9450, targeting the resistance levels at 0.9500 and 0.9550 (which are the initial targets). Further upwards movement is expected – happening irrespective of occasional pullbacks in the market.

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The EMA 11 is above the EMA 56, and the Williams' % Range period 20 is in the overbought region. This means, the outlook on the market remains bullish, although the price is not expected to go upwards in a straight line. There is a Bullish Confirmation Pattern in the 4-hour chart.

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