USD/CHF Could Turn To The Upside!

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USD/CHF failed to stabilize under 0.9129 former low and now it has passed above the downtrend line. The bias was bearish as long as the pair was located under the downtrend line.

Now, the sentiment could change if USD/CHF will stabilize above the broken dynamic resistance. Staying above 0.9129 and jumping beyond 0.9190 former high, static resistance, could signal an important upside movement.

Trading Conclusion!

USD/CHF moves sideways between 0.9190 and 0.9129 levels. The breakout through the downtrend line signals an upside reversal.

So, jumping and stabilizing above 0.9190 high could bring a new buying opportunity with an immediate upside target at 0.9300 psychological level.

The material has been provided by InstaForex Company - www.instaforex.com

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