FX.co ★ USD/CHF

As we approach the end of the trading week, we can see that it is essentially concluding with a bullish indication of a possible breakout from the sideways movement to the upside for USD/CHF. Today, the bulls attempted to reach the 81 figure, but only tested the round level of 0.8100 and reached 0.8103, so the breakout has not happened yet. However, as mentioned, the target is set, and for now, we may see a short correction, which is currently underway. I anticipate a price decrease for USD/CHF towards a test of the upper boundary of the trend indicator bands - 2 EMA and the 14-period moving average line around the level of 0.8070. Nevertheless, it is quite possible that the bulls will gather strength to continue the upward movement from the current position. Moreover, we can observe buyers attempting to turn the last bearish H4 candle into a bullish one. From a technical standpoint, I lean towards the first scenario, supported by the advisor on my chart. Nonetheless, whether it happens today or next week, I believe the rise of USD/CHF will continue. The next goal for the bulls will be to solidify the price above the round level of 0.8100 and continue the ascent towards the resistance at 0.8120.