12.05.202319:30 Forex Analysis & Reviews: USD/CHF: upside reversal in play

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 0.8998 Upside Obstacle!

The USD/CHF pair is trading at 0.8983 at the time of writing. As you can see on the H1 chart, the rate failed to stay below the downtrend line signaling that the downside movement ended and that the buyers could take it higher again.

Technically, the 0.8998 former high represents an upside obstacle. It remains to see how it reacts around this level.

USD/CHF Trading Conclusion!

Jumping and stabilizing above 0.8998 activates further growth. This is seen as a buying opportunity.

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.