USD/CHF Price Analysis: Bulls in charge while on top of trendline support

USD/CHF bulls eye a move into the M-formation´s neckline.
Bears seek a break of key trendline support.

Ross J Burland FXStreet

USD/CHF has slid into support and is meeting a trendline that is coming under pressure and exposing the 0.8915 and 0.8905 support structures as the following will illustrate.

USD/CHF daily chart

The price is trying to break out of the trendline resistance as shown above, which makes for a bullish bias while above the micro trendline support structure. 0.900 is key in this regard as the bulls need to get above there.

USD/CHF H4 chart

Meanwhile, the 4-hour chart is seeing resistance as 0.8950 as being the neckline of the M-formation:

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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