Daily analysis of USD/CHF for May 7, 2018

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USD/CHF

This pair has normally been going upwards as EUR/USD is going downwards. Price has gained over 800 pips since February 16 (it gained 130 pips last week). The great psychological level at 1.000 has eventually been reached and a lot of activity has started around that level, as bears are struggling to prevent bulls from pushing the price above the level.

USD is supposed to continue being strengthened. However, bulls will eventually win the struggle, and enable the price to stay above the psychological level at 1.0000, as another resistance level at 1.0050. USD reigns.

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

Source:: Daily analysis of USD/CHF for May 7, 2018

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