Sasha Singh
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USDCHF : Bearish Outlook Might Fade Away

USDCHF : Daily Chart

USDCHF is currently giving me a scary look as the pair is following rising wedge pattern which gives a bearish signal. So the pair might pause its gains and decline any time after reaching the apex of the wedge. US dollar is rising because of the expectation among investors that the Fed might raise the interest rates sooner than expected. The uptrend might fade away if the pair breaks below the rising support trend line. However there are support levels which will provide support to the pair and the pair might again revive. If the pair breaks above the resistance trend line the bearish outlook will fade away.

USDCHF : Weekly Chart

If looking at the weekly chart, we can see that the pair broke above the key resistance at .9152 and might now act as support for the pair. This opens the doors for the next resistance level at .9223. So overall the pair seems supported in the long run.