USD/CHF rising inside sharp minor correction

USD/CHF rising inside sharp minor correction

  • USD/CHF rising inside sharp minor correction
  • Next buy target - 0.9800

USD/CHF continues to rise inside the sharp minor correction which started earlier with the weekly Bullish Engulfing from the powerful support zone located between the support levels 0.9460 and 0.9550 (which has been steadily reversing all downward corrections from the end of 2015, as can be seen from the weekly USD/CHF chart below). This support zone was further strengthened by the lower weekly Bollinger Band. USD/CHF is expected to rise to the next buy target at the next resistance level 0.9800 (former strong support from April).

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