USD/CHF flirts with the 0.9375 higher high. Passing and stabilizing above it may signal further growth ahead. Technically, the outlook remains bullish as the USDX is bullish and because the pair is traded within an up channel.

CHF may resume its depreciation as the risk-on sentiment dominates the markets. SNB maintained its monetary policy, the SNB was kept at -0.75% as expected. USD could extend its growth if the US Final GDP, Final GDP Price Index, and the Unemployment Claims will come in line with expectations or better.

USD/CHF Resumes Its Up Channel!


USD/CHF continues to increase within an up channel after breaking out from a minor Falling Wedge pattern. Breaking above 0.9375 and through the R2 (0.9378) could signal an increase far above 0.94 psychological level.

Registering a new higher high validates more gains. The near-term major upside target is seen at the channel’s upside line. USD/CHF is back above the 50% retracement level after the price’s failure to reach and retest the 38.2%.

Tips & Forecast!

A bullish closure above 0.9375 and beyond the R2 is seen as a bullish signal. The 61.8% retracement level, the R4 (0.9495), and the upside line represent immediate upside targets.

The material has been provided by InstaForex Company –

Leave your vote

🚀If you want to get a Forex Robot Coded as per your trading strategy but are unable to do so because of the high price for the Robot then you can take advantage of the CROWD FUNDING campaigns feature. ✔ These are some crowd funding campaigns for Forex Robots, which when completed can provide the very same Forex Robot to the participants at an average price of $5-$10 per participant. ✔ You either participate in one of the already listed campaigns or send us your Forex strategy : Submit Crowd Funding Campaign , for which you would like the Forex Robot to be coded. A Crowd Funding Campaign would then be started for the same . ✔ All you have to do later on is to share the campaign online with your friends to encourage more people to participate in the campaign.

As a result, each participant can get that Forex robot for just a campaign contribution of $5 (which is the minimum). Participants can back the campaign by anything above or equal to $5 to reach the funding goal to close the campaign.