Facts: USDCHF is trading above the 100-period moving average from D1 interval The pair bounced off the horizontal support area 0.8180 – 0.8205 Recommendation: Trade: Long position on USDCHF at market price Target: 0.8358 Stop: 0.8150

Opinion: USDCHF has been trading in an upward move recently. Looking at the pair at the D1 interval, one can see that the pair broke above the horizontal resistance area 0.8180 – 0.8205, which acts as a support now. Following a local downward correction, the pair rebounded from the aforementioned area and bullish candlestick appeared on the chart. According to the classics of technical analysis, the main sentiment remains bullish and continuation of the upward move looks to be the base case scenario for now. We recommend going long USDCHF at market price with a target of 0.8358. We also recommend placing a stop loss at 0.8150. Source: xStation5