USDCHF is trading at 0.9113; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s downside border at 0.9105 and then resume moving upwards to reach 0.9205. Another signal in favor of further uptrend will be a rebound from the support level.
However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 0.9060. In this case, the pair may continue falling towards 0.8975. To confirm further growth, the asset must break the upside border of the Triangle pattern and fix above 0.9145.
Orgin: RoboForex
