USDCHF had made a bullish exit, watch for a potential rise!

28 Feb 2018

USDCHF has made a bullish exit of its descending resistance-turned-support line signalling that we could be seeing some bullishness. However, we're seeing major resistance at 0.9405 (23.6% long term fibonacci retracement, 100% fibonacci extrrension, horizontal swing high resistance) that needs to be broken before opening up a potential rise to 0.9459 (Fibonacci extension, horizontal swing high resistance).

Our 1st major support is at 0.9359 (23.6% Fibonacci retracement, horizontal swing low support) before our next support at 0.9322 (38.2% Fibonacci retracement, horizontal overlap support).

RSI (55) has made a bullish exit signalling potential change in momentum from bearish to bullish and also sees ascending support hold up our long term bullish momentum.