USDCHF reached our initial target the previous week and then pulled back from 0.9236 to 0.9185. Price has formed a higher low and I expect the upward move to continue over the coming days.

USDCHF broke out of the bearish channel and produced an upward move as expected. Price is making higher highs and higher lows. Short-term trend has changed to bullish. USDCHF next target is at 0.9255. Bulls need to close price today or tomorrow above 0.9210 in order avoid the danger of a lower low below 0.9185. We remain bullish USDCHF looking for a move towards 0.9255 and higher.