The USDCHF continued its bullish momentum yesterday , bottomed at the 0.9721 levels and topped at the 0.9848 levels. This development leaves the pair targeting the 0.9930 levels , a halt is likely , but a break would open 1.030 next , further upside will aim the 1.0150 levels.
On the downside , support comes at the 0.9721 levels , losing this level on a daily closing basis will bring a corrective pullback above the 0.9550 levels before the next rise……..
In all , as long as 0.9721 support holds on a daily closing basis , outlook in USDCHF remains on the upside towards the 0.9930 levels ahead of the 1.030 levels, below 0.9721 will bring pullback towards the 0.9552 levels before the next rise.
Note that stability above the key resistance 0.9850 on a daily closing basis , will turn this level from resistance to a strong support level…