Friday, May 12, 2023
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.
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