USD/CHF has turned to the upside after failing to stabilize below 0.9018. The false breakdown below of this static support sent the rate higher again. The US dollar index rebound, lifting up the pair.
If USDX continues to grow, USD/CHF will jump higher as well. As you can see, the pair is trading below the major downtrend line. So a breakout of this line followed by test or by strong consolidation, sideways movement, will announce an uptrend reversal.
USD/CHF showed oversold signs when it failed to reach the downside line of the minor down channel. It escaped from this channel signaling further growth.
- USD/CHF Trading Tips
A drop below 0.9090 suggests selling with a potential downside target at 0.9018.
If you want to buy it, you should wait for a jump above 0.9154 static resistance or for a breakout above the major downtrend line. The second option would give you a great chance to buy USD/CHF with higher targets.
