USDCHF 1.0155 – bullish – Rallies within a 4-week rising channel
USDCHF reached 1.0220 (November 18, 2015 high) while forming a 4-week rising channel (as shown on the daily chart). While the 1.0076/0.9990 support zone (November 8 high/November 12 low, 2015) holds dips, above 1.0220 would extend the uptrend towards the 1.0239 YTD peak (January 14, 2015). Clearing the latter would confirm a major year-long base and firm for 1.0640 (July 26, 2010 high) next.
However, a break below 0.9990 would caution bulls near-term for further correction towards .9957 (October 28, 2015 high) then possibly .9835 (November 2, 2015 low).
Outlook:
Intraday: neutral
Daily: bullish
Weekly: bullish
USDCHF reached 1.0220 (November 18, 2015 high) while forming a 4-week rising channel (as shown on the daily chart). While the 1.0076/0.9990 support zone (November 8 high/November 12 low, 2015) holds dips, above 1.0220 would extend the uptrend towards the 1.0239 YTD peak (January 14, 2015). Clearing the latter would confirm a major year-long base and firm for 1.0640 (July 26, 2010 high) next.
However, a break below 0.9990 would caution bulls near-term for further correction towards .9957 (October 28, 2015 high) then possibly .9835 (November 2, 2015 low).
Outlook:
Intraday: neutral
Daily: bullish
Weekly: bullish