USD/CHF: a bullish breakthrough

USD/CHF: a bullish breakthrough

2021-01-21 • Updated

On the H4 chart of USD/CHF, we have the resistance of 0.8920 since the beginning of December. It was approached several times since then but has never been broken.

Currently, the higher lows formed recently suggest that there is a potential for a bullsh breakthrough. Fundamentally, that may be an option as the USD hasn't been particularly strong these days, and CHF is a currency that may well take advantage of the dollar's weakness. 

Therefore, watch for trend reversal signs in the short-term. If none appears, we are in for a bullish breakthrough. In this scenario, 0.8950 is the first upside target to be looking at, with 0.90 beaing a secondary resistance.

USDCHFH4.png

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