The bullish momentum that began mid-February has guided the USD/CHF exchange rate towards the upper boundary of a dominant ascending channel. This mark 8.59% increase in price during the last two months. The currency pair has breached a resistance formed by the monthly pivot point at 0.9952.
It seems that this may indicate a continuous move north that might be expected within the following trading days. The next barrier that might hinder the Buck from gaining further strength is located near 1.0045 which is a resistance cluster set by the combination of the weekly R1 and the monthly R2.
In the meantime, technical indicators favour bulls to control the market within this session. However, a corrective move south is very likely before the aforementioned target could be fulfilled.
