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22.03.201804:55 Forex Analysis & Reviews: Daily analysis of USD/CHF for March 22, 2018

Long-term review

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USD/CHF

The USD/CHF went upwards this week to test the resistance level at 0.9550. However, price could not stay above the resistance level, and thus it fell below it. That kind of pullback can be seen as a temporary sale in the context of an uptrend, which could later lead to an opportunity to buy long at a better price.

The Williams' % Range period 20 has gone into the oversold region, in resonance with the current pullback. A movement below the support level at 0.9400 would lead to a Bearish Confirmation Pattern in the 4-hour chart. On the other hand, a movement above the resistance level 0.9550 would result in a greater emphasis on the extant bullish bias.

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