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Currency analyst

USD/CHF: franc is ready to leave the triangle

On the USD/CHF daily chart, «bulls» are testing resistance at 0,974-0,975. If they succeed, it will allow them to prepare an attack for the upper boundary of a descending triangle. Breakout of the diagonal resistance will open the way to the target of the "Shark" pattern at 88.6%. It is located near the 0.9865 mark.  

On the USD/CHF hourly chart, successful test of the upper boundary of the descending trade channel should be confirmed by the resistance breakout at 0,975 (61.8% Fibonacci of XA wave). If the "bulls" take control of the situation, they will fulfull the target of the "Shark" inverted pattern at 113% (near the 0.984 mark).

Recommendation: BUY 0,975 SL 0,9695 TP1 0,984 TP2 0,9865.

CHF
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