USD/CHF looks set to leap out the gates

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USD/CHF has performed well since its latest rebound from 0.84, a level some analysts suspect prompts the SNB to intervene when prices cross beneath it. but unlike USD/JPY, its rally hasn't stalled near a big round number such as 150 or look overextended.

The daily RSI (14) is confirming the rally and not in the overbought zone. The USD-CHF 2-year spread has accelerated higher ahead of prices to suggest upside pressure could be building for USD/CHF.

And a solid bullish trend is apparent on the 1-hour chart, prices are consolidating above the weekly R1 pivot point and trades around the 20-hour EMA. on balance volume (OBV) is also confirming the bullish trend on the 1-hour chart.

Bulls could seek dips towards the weekly R1 pivot or enter around current levels in anticipation of an upside break of its consolidation. The weekly R1 makes a viable upside target, a break above which brings the R3 into focus around 0.8690.
Trade chiuso: obiettivo raggiunto
Nice clean breakout to target.

MS.
Pivot PointsSupport and ResistanceTrend Analysis

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