By: Colin Jessup
Over the last couple of days, the USD/CHF daily chart has given us a strong bullish continuation candle closing just above the resistance level of 0.9000, and then reached a high of 0.9181 during the North American session yesterday. Expect price to pull back during the Asian session, but the bullish trend will most likely continue depending on the FOMC announcement from the USA. If the Greenback continues to gain strength after the announcement, we could see the Swissy hit 0.9300, which is the next major daily resistance zone. If the Greenback wanes however, look for support at 0.9000 of course, with 0.8925 and 0.8800 both offering support below that. Be very cautious trading today as we could be in for a bit of a roller coaster!
Happy Trading!
