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USDCHF : Giving Bullish Signal, Might Break Above the key Resistance at .9102

USDCHF : 4 Hour Chart

50 day SMA seems like acting as support for the pair USDCHF. On the 4 hour chart the pair is following a channel uptrend which is signaling a bullish trend. The pair is now moving above the rising support trend line of the channel and if it continues to do so it will find the resistance from the rising resistance trend line. Also seems like there is an ascending triangle trend on the chart according to which the pair might break above the key resistance at .9102.

The upcoming data of unemployment claims releasing today at 8:30 AM EDT might give some direction to the pair. If the data beats the economist’s expectation  we might see the pair surging above the key resistance mentioned above however if the data misses the expectations the pair might decline below the rising support trend line of the channel reversing the uptrend to sideways.