Sasha Singh
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USDCHF : Falling Wedge Giving Bullish Signal

USDCHF continued to decline after the downbeat US Trade Balance Data however if looking at the daily chart the pair is giving a bullish signal. It is trading within the falling wedge according to which the pair might break the resistance trend line of the wedge and rise up. Currently it is rising up finding support from the support trend line of the wedge towards the resistance trend line. Today Fed chairman Janet Yellen is going to testify in front of Joint Economic Committee of Congress in Washington DC at 10:00 AM EST which might also bring some significant changes to the pair.