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Forex Analysis:::2021-03-15T13:54:46

USD/CHF More Upside In View!

USD/CHF More Upside In View!

USD/CHF is trading at 0.9290 level trying to attract more buyers before jumping far above 0.93 psychological level. It continues to stay above the uptrend line signaling a potential further growth.

I've told you in a previous analysis last week that USD/CHF should resume its uptrend if it jumps above the minor black downtrend line. The pair was into a minor correction after registering strong growth.

Passing above the downtrend line and being located far above the uptrend line we could think that USD/CHF could develop a new upside momentum anytime again.

Trading Conclusion!

To be sure that the rate will continue to increase, maybe you should wait for USD/CHF to jump above Friday's high, the most recent peak high, before buying this pair again. Technically, the price could slip lower to approach the uptrend line before flying higher.

0.7374 higher-high could be used as the first upside target if the price continues to increase.

Analyst InstaForex
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