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After the strong growth that the dollar/franc currency pair demonstrated the week before last, an entirely natural and even expected correction of the exchange rate occurred at the auctions of the past five days. However, a characteristic moment is that the trades on June 21-25 closed above the most important psychological and technical level of 0.9000 and significantly above another important mark of 0.9100.
Weekly
The weekly chart of the USD/CHF currency pair suggests that the growth will continue. After all, such huge bullish candles do not just arise. In my opinion, this is a clear signal that the pair will continue to move in a northerly direction. However, everything is equal to Friday's data on the US labor market. As has been repeatedly noted in previous articles, much will depend on these important data. In the meantime, the bulls' focus on the instrument is the iconic mark of 0.9300, right above which the black 89-exponential moving average passes. If this level and the 89th EMA are truly broken, the next goals of the players to increase the rate will be 0.9360, 0.9400, and 0.9450. In a downward scenario, the pair's nearest targets will be the blue Kijun line of the Ichimoku indicator and the 50 MA and the red Tenkan line, which are located near 0.9080.
Daily
On the daily chart of the dollar/franc pair, we see consolidation. Most likely, there is a preparation before the breakdown of the nearest resistance level of 0.9235, where the maximum values were shown on June 18 and 21, respectively. If the market decides to implement a downward scenario, the pair will fall to the Tenkan line, which runs at 0.9155. In general, in my opinion, the bulls must keep trading above the mark of 0.9200, and so far, they are doing it.
Trading recommendations for USD/CHF:
If we designate priority directions, then this is the northern one, which means that we need to prepare for the pair's purchases. As you know, it is better, safer, and more profitable to buy a particular asset from the depths after minor and short-term corrective pullbacks. However, the USD/CHF pair had already had a pullback last week, and now the pair can move to continue growing from current prices. Nevertheless, I recommend waiting for another minor pullback to the price zone in the area of 0.9200-0.9185 and consider buying the instrument. If such a pullback does not happen now, and the pair rises to the resistance area of 0.9200-0.9230, and bearish candlestick analysis models appear at this or smaller time intervals, this will be a signal to open short positions with small targets near 0.9160. At this point, these are all thoughts on the USD/CHF currency pair. As you have already understood, the priority is purchasing.
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