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Daily analysis of USD/CHF for April 5, 2018

Posted On 05 Apr 2018
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USD/CHF

This pair is going gradually higher and higher. Price has risen by over 80 pips this week, now above the support level at 0.9600 (which was the first target to be met), and going towards the resistance level at 0.9650. The resistance level may even be exceeded as volatility arises, favoring bulls.

The EMA 11 is above the EMA 56, and the Williams’ % Range period 20 is in the overbought territory. There is a Bullish Confirmation Pattern in the 4-hour chart, and thus, the price is expected to go further upwards, irrespective of temporary pullbacks along the way.

The material has been provided by InstaForex Company – www.instaforex.com

Source:: Daily analysis of USD/CHF for April 5, 2018

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