Technical Analysis

USDCHF trades at highest stage since November

5 days up

The USDCHF bottomed most not too long ago on Thursday after getting near the 100 and 200 day MAs (blue and inexperienced strains). The low got here in at zero.9907.  Since then, it has been 5 days greater. The value simply reached 1.0026.  That’s the highest stage since November 16th.  

The USDCHF is trading at the highest level since November 16

Drilling to the hourly chart beneath, the worth rise as we speak is extending up towards a topside pattern line that has three completely different factors on the road. That concentrate on is at 1.0030. There needs to be a pause on the take a look at with stops/extra shopping for on a transfer above (I assume we’re inside four pips on the excessive).  

A topside trend line is the next target for the USDCHF

A transfer above would look towards the July 13 excessive from the day at 1.0067. Then the 2018 excessive at 1.01276 can be eyed (if the greenback run can proceed). 

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