FX.co ★ USD/CHF

Good Friday evening! At the end of this trading week, we can see that the quotes of the US Dollar against the Swiss Franc are in a bullish correction phase and are currently testing the resistance at 0.8035 for a breakout to the upside. However, bears have built a strong defense here, constantly pushing the pair down, while bulls are unable to open a new four-hour candle above the mentioned level and the upper boundary of the 2EMA trend indicator bands. Additionally, there is already a Zigzag indicator mark on the chart indicating the completion of the correction. Although its signal is not fully confirmed yet, this could lead to an additional and more solid test of the resistance at 0.8035. However, later on, we should expect further development of the descending four-hour trend towards the support at 0.7985 to potentially update the current local minimum marked by the Zigzag indicator.