The pair is greatly influenced by the constant changes in global risk sentiment as well as the policy of the central banks.
USD/CHF: bears showed weakness
TP1 1.0085 TP2 1.0155 TP3 1.0185
On the daily chart, USD/CHF is pulling back to the medium-term uptrend. Bears failed to form “Spike and ledge” and bulls returned the initiative. Buyers are counting on a break of resistance at 0.9985 and continuation towards 113% target of the “Shark”.
On H1, USD/CHF is forming a “Broadening wedge”. To finish the graphical configuration, it needs to overcome resistance at 0.9985. As a result, a point 5 will form.
The last "Pennant" pattern has been broken, so bulls found resistance at 1.2915. Nevertheless, the market is likely going to move on, so we should...
USD/CHF remains weak across the board and stays strong with a bearish consolidation below the 200 SMA at H1 chart…
There's no any reversal pattern so far, so the market is likely going to test the nearest resistance area in the short term...