traderpulse
Long

USD/CHF Technical analysis

FX:USDCHF   U.S. Dollar / Swiss Franc
The counter is in a bullish trend forming higher highs and higher lows.
It moved past a critical resistance of 1.01263 in its uprally as well.
Prior to the FOMC meeting, the counter has a profit booking sell-off which can be attributed to a flag pattern , technically.
The post-meeting press conference has bolstered bullish confidence in the counter, which can be seen via a bullish engulfing candle.
Also, the broken resistance of 1.01263 is lending support to the price action.
Hence we expect the pair to move to the levels of 1.02272 and 1.02678.
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