USD/CHF: 1-hour
Can USD/CHF keep climbing? The pair appears to be forming a rising trend line on its 1-hour forex time frame, indicating that a short-term uptrend is playing out. After its latest rally, price looks ready to pull back to the trend line, which happens to line up with the 100 and 200 SMAs. Using the Fibonacci retracement tool reveals that the 61.8% level lines up with an area of interest around .9185, which could act as support from now on. Stochastic is already indicating oversold conditions, suggesting that dollar bulls could charge again soon.
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