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Pause in bullish momentum.
(By Peter Rosenstreich)
• USD/CHF has paused after breaking resistance at 0.9838. The technical structure suggests an improving short-term buying interest. Expected to show continued bullish pressures within uptrend channel. Hourly support stands at 0.9712 (12/10/2017 low). • In the long-term, the pair is still trading in range since 2011 despite some turmoil when the SNB unpegged the CHF. Key support can be found 0.8986 (30/01/2015 low). The technical structure favours nonetheless a long term bullish bias since the unpeg in January 2015.
