Daily analysis of USD/CHF for May 16, 2018


This currency trading instrument has not done much this week, and price itself has nearly gone below the support level at 1.0000, which is an important level. Once the first target at 1.0050 is breached, another resistance level at 1.0100 would be aimed at; and this is something that requires a rise in volatility.


A rise in volatility is expected today or tomorrow. There is a Bullish Confirmation Pattern in the 4-hour chart. Price would rise again, possibly reaching the resistance level at 1.0050 and breaching it to the upside.

The material has been provided by InstaForex Company – www.instaforex.com