18.08.202212:48 Forex Analysis & Reviews: USD/CHF further growth to be confirmed

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

USD/CHF Challenges The Former High

The USD/CHF pair was traded at 0.9533 at the time of writing and it seems determined to resume its growth as long as it stays above the uptrend line. Failing to reach and retest the uptrend line, which represents a downside obstacle, signaled strong buyers. The 0.9502 level represents a downside obstacle as well.

As you can see on the H1 chart, the rate reached the 0.9540 former high which represents an upside obstacle.

USD/CHF Trading Conclusion

Jumping and stabilizing above 0.9540 may signal further growth ahead and could help buyers catch a larger upwards movement.

Only dropping below the uptrend line and under the 0.9502 former low may announce a new downside movement and could invalidate the upside scenario.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.