Daily analysis of USD/CHF for March 26, 2018

analytics5ab868b882ca7.png

USD/CHF

The USD/CHF pair may assume a directional movement this week. In the short-term, this pair is bullish. Since the support level at 0.9200 was tested on February 16, 2018, the price rallied by over 350 pips, moving briefly above the resistance level at 0.9550. The market has been corrected lower since then, closing below the resistance level at 0.9500.

A rally from here would save the bullish bias; while a plunge from here would render it invalid. Nonetheless, the market is more likely to go upwards as a result of a bearish outlook on EUR/USD. A Bullish Confirmation Pattern may be formed in the market.

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

Source:: Daily analysis of USD/CHF for March 26, 2018

About the Author
InstaForex brand was created in 2007 and at the moment it’s a top choice of more than 2,000,000 traders. More than 1,000 clients open accounts with InstaForex every day. All InstaForex clients get great opportunities for effective trading on the forex market, as well as on-time technical and customer support

Leave a Reply

*