USDCHF - Ride the trend while it lasts
USDCHF (4H) - weekly bullish bias
The rising trendline from 13 August has clearly provided solid support for the dollar's recovery against the swissie. Now that the pair has attempted to break above the daily resistance of 0.9970, we can expect more buying pressure as the price falls back towards the trendline. However, a RSI divergence is an indication that the bullish momentum might have lost some steam.
Key support: 0.9890/0.9850
Key resistance: 0.9970/1.0000
The rising trendline from 13 August has clearly provided solid support for the dollar's recovery against the swissie. Now that the pair has attempted to break above the daily resistance of 0.9970, we can expect more buying pressure as the price falls back towards the trendline. However, a RSI divergence is an indication that the bullish momentum might have lost some steam.
Key support: 0.9890/0.9850
Key resistance: 0.9970/1.0000
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