USDCHF is trading at 0.9235; the instrument is moving inside Ichimoku Cloud, thus indicating a sideways tendency. The markets could indicate that the price may test the cloud’s downside border at 0.9215 and then resume moving upwards to reach 0.9335. Another signal in favour of a further uptrend will be a rebound from the descending channel’s upside border.
However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 0.9165. In this case, the pair may continue falling towards 0.9075. To confirm further growth, the asset must break the descending channel’s upside border and fix above 0.9295.
