FX.co ★ USD/CHF

USDCHF D1 Chart Analysis: The D1 chart shows that after rising from the 0.81289 support level and then kicking it again after reaching the 0.81689 resistance level, the bulls are still driving the price. A rectified rollback is being used to incur the cost. It is more likely that the price will keep increasing in the direction of 0.81289, which, if broken, will offer an opportunity to move higher toward 0.81689 and 0.81989. This is because it is expected to settle above the H4 triangle's upper border. The price is about to enter the first growth phase, according to the H4 chart, which also maintains the indicator's growth phase suggestion. The accumulation of many support lines, both local and large-scale, shows that the price is currently on a rollback. With the closest targets being 0.81689 and 0.81289, I believe the price will continue to move north in order to reach the maximum from the present ones for the time being. Allow me to recalculate the USD/CHF pair's movement this afternoon. We expect it to resume its weekly bullish trend next week after it reaches the level below the new daily higher high on Friday at 0.81049. Uncle and Madam, the USA Dollar index may move sideways horizontally today due to a significant negative countertrend that started last Friday and continued until this morning's closing. The USD/CHF pair is now contained within the daily support zone; if more weakening occurs next week, the pair's next objective will likely be the next support level at 0.80989. To reach its bullish objective area around 0.80689, USD/CHF must not break the support line as long as it does not cross the downward trend line.