USD/CHF reversed seems to be on hold and pair is forming a rectangular pattern which is in favor of bulls, after price is making a sustain gain above 0.9152 support level and confirmed that 0.9152 support level is strong one after this level holds, and this is a sign towards higher trading, this cuts down movement towards higher levels, however the up move is on slow pace and this move doesn’t show signs of huge strength and thus gives some signs of wear after price failed to decline further down. However, Price is trading above 0.9152 support level and bias is flipped towards bullish and this is a sign that the thought corrective move was a false one and upward seems not to lose any of its momentum and extend further more increasing in value USD/CHF and now path for targeting up is cleared. Price should target higher. If pair managed to a sustain gain then this signals that pair has gather lots of strength to make a retest of the upper trend line. Only strong upward impulse would be in favor of bulls, and this would boost their confidence. Intraday bias remains bullish for the moment after successful trade above 0.9061 support level, and now we are expecting price going further upwards. Focus of recovery will be 0.8815 level if pair managed sustain gain, this will signal for a upward move towards 0.9061. On the downside, price will be limited above 0.8245, we expect no further decline.
Daily Pivots: Pivot Point – 0.9180, 1st Support – 0.9149, 1st Resistance – 0.9214