Home›Forex›Major Pairs›USD/CHF stays bullish while key support at 0.8182 holds

USD/CHF stays bullish while key support at 0.8182 holds

Action Forex expects a 100% projected move toward 0.7760 to 0.8205 this week, with a bullish outlook contingent on 0.8182 support.

Reported · Written up by our desk · Major Pairs

USD/CHF’s rally continued last week, and Action Forex said there is no sign of a topping yet, keeping an upside bias for the current week.

The outlet projected a 100% move range of 0.7760 to 0.8205, adding that the outlook will stay bullish as long as 0.8182 support holds if price retreats.

In the bigger picture, Action Forex said the prior rise from 0.7603 could be reversing the medium term trend, and it highlighted 0.8332 support turned resistance as the next level to watch for confirmation.

It also noted that a firm break above 0.8332 would target the 61.8% retracement of the 0.9200 to 0.7603 range at 0.8590, while the outlook stays bearish long term if the 55 M EMA at 0.8578 holds.

More like this

Sources