Today’s forecast of USD/CHF
United Kingdom – Bank Holiday
USD/CHF was downtrend but has it changed Uptrend ?
USD/JPY started another increase above 137.10 resistance.
USD/CHF Daily Technical Analysis
Since USD/CHF breaked of a support in Descending channel , The trend is changed to Uptrend .
But There might be a strong resistance zone which is between 0.9700 to 0.9700.
USD/CHF 4-hour Technical Analysis
Looking at 4-hour chart,
A price moved on a ranging market which is between 0.9600 to 0.9670 last week.
Although a breakout happened below 0.9600 supports level , it was false breakout .
Therefore the price might exceed 0.9670 resistance level.
After Bullish candlestick with long tail was shown , since it was tried to go over 0.9670 resistance level , wait for finding a chance of Buy the Dips.
Find a change of Buy the Dips at 1-hour chart