USDCHF is trading around 0.9420. Price is challenging important horizontal resistance. The area between 0.9420 and 0.9475 is very important resistance. Price has so far managed to make higher lows and respect the upward sloping support trend line.
Blue lines- resistance
USDCHF has the potential to rise towards 0.9750-0.98 if bulls manage to recapture 0.9475 and stay above it. Price is starting to make higher highs and higher lows since the last touch of the green support trend line back in January of 2022. I'm bullish USDCHF as long as it holds above the green support trend line and I will be even more bullish if the blue resistance area is broken upwards.
