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USD/CHF extends its uptrend

analytics6154a1399d902.jpg

USD/CHF: fresh highs ahead!

USD/CHF has resumed its growth despite temporary declines. As you already know from my analysis, the pair was expected to increase as long as it stays above the uptrend line.

As you can see on the H4 chart, the price failed to come back to reach and retest the uptrend line signaling strong buyers. In the short term, a temporary decline was somehow expected after registering a sharp growth. It has slipped lower to test and retest the 0.9267 and 0.9238 former highs before jumping higher.

USD/CHF Trading Conclusion!

The current aggressive breakout above 0.9324 is seen as an upside continuation signal. The major upside target remains at the channel's upside line. Still, in the short term, the pair could decline to try to test and retest the 0.9324 before jumping higher towards new highs.

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