Technical analysis of USD/CHF 10/30/2018
The USD/CHF currency pair continues to move within the ascending channel on the 4H time frame. At the moment, we should expect a correction and an attempt to test the support area near the level of 0.9960.
In favor of the correction, there is a trend line test on the RSI indicator, as well as a rebound from the upper boundary of the channel. A strong growth and the breakdown of the area of 1.0080 will indicate a breakdown of the upper boundary of the channel and cancellation of the reduce option for USD/CHF.
Among the important news from Switzerland that may have an impact on the USD/CHF rate, it is worth highlighting: Speech by the head of the Swiss National Bank.
Created by Joshua Hayn