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USDCHF remains in bullish trend.

USDCHF is trading at 0.9280. After successfully back testing the support at 0.9220, price is now bouncing higher. Price continues to respect the key support trend line and continues making higher highs and higher lows. Trend remains bullish.

analytics615f22553bc50.jpg

Red line - support trend line
Green line- horizontal support

As long as price is trading above the red trend line support we remain bullish USDCHF. As we mentioned in previous posts, the triangle pattern breakout is targeting the 0.95 area. So this remains our primary target as long as price respects support. Failure to hold above 0.92 will be a bearish signal and will cancel our expectations for a move towards 0.95.

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