The USDCHF has held above the strong resistance of 1.0220
The Swiss Franc keeps its steady uptrend, despite strong divergence in trading volumes. The breakout of 1.0220 resistance suggests further growth.
Level 1.0220 is currently acting as strong support. Besides, trading is developing within the medium-term ascending channel. As long as the channel remains intact, upside potential preserves.
In a short run, we expect corrective pullback to the channel’s lower border at 1.0185, followed by the rebound up. Potential growth targets are 1.0260, 1.03000.
Bullish trend will turn down for correction if price breaks the lower border of the ascending channel at 1.0185. The main decline targets in this case will be situated at 1.0140, 1.0120 supports.
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