USD/CHF has started moving upwards in a predictable
manner, thus ending the short-term consolidation that was witnessed on Monday
and Tuesday. The market is currently above the support level at 0.9400, going
towards the resistance level at 0.9540, which would be breached to the upside,
as another resistance level at 0.9500 is targeted.
The EMA 11 is above the EMA 56, and the Williams’ %
Range period 20 is in the overbought region. This means the outlook on the
market is now bullish, irrespective of occasional pullbacks in the market.
There is a Bullish Confirmation Pattern in the 4-hour chart.