USD/CHF bullish above 0.9700

USD/CHF bullish above 0.9700

USD/CHF remains above the Fibonacci retracement level of 78.6% and awaits to resume the bullish bias in the short-term. Around the area mentioned above, the pair has formed a possible double bottom pattern that could help to boost the price action in favor of the bulls. If that happens, gains are expected to take place towards the -23.6% Fibo level at 0.9871. The invalidation point of this outlook is placed at 0.9666.

RSI indicator remains in the negative territory.

USDCHFmH1.png

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