FX.co ★ Daily analysis of USD/CHF for May 18, 2018

USD/CHF

The situation on the market remains unchanged. The USD/CHF has been consolidation for about 2 weeks – in the context of an uptrend. A movement to the upside would strengthen the bullish bias, while a movement to the downside will render it invalid.

A rise in volatility is expected today or next week. There is a Bullish Confirmation Pattern in the 4-hour chart. Price may rise again, possibly reaching the resistance level at 1.0050 and breaching it to the upside. On the other hand, further ranging movement could result in a neutral outlook on the market.