Daily analysis of USD/CHF for May 8, 2018

USD/CHF

The USD/CHF pair has managed to go above the psychological level at 1.0000 earlier this week; now targeting the resistance level at 1.0050, which could be reached any moment from now. The price is currently consolidating, and there would soon be a breakout in the market, which would most probably favor bulls.

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USD is supposed to continue being strengthened. There is a Bullish Confirmation Pattern in the market, which makes short trades illogical at the moment. Volatility will return to the market any movement.

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