14.01.202114:41 Forex Analysis & Reviews: USD/CHF Targeting New Highs

Exchange Rates 14.01.2021 analysis

USD/CHF has decreased to retest the 0.8866 former high and now it seems determined to approach and reach fresh new highs. I've told you in a previous analysis that the pair is expected to develop an upside movement after breaking above the downtrend line.

The immediate target, obstacle, is seen at the 0.8918 level. Passing and stabilizing above this level confirms further gains and could bring a great buying opportunity.

Trading Conclusion!

Buy jumps above 0.8918 and if it reaches 0.8930 level. The 0.9000 psychological level could be used as an upside target.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Ralph Shedler,
Analytical expert
InstaForex Group © 2007-2021
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