Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The USD/CHF pair’s decline has stopped around 0.9200 as a triple bottom emerged. A falling wedge and oscillator flashing selling pressure waning could pave the way for further upside in the pair.
The Swiss Franc bounced at around 0.9200 and climbs toward 0.9250s during the US session, which witnessed low liquidity conditions on the new year eve.
The lack of key US and Swiss economic data left traders under the influence of the prevalent market sentiment. At the time of writing, the USD/CHF is trading at 0.9253, above its opening price by 0.15%.
The daily chart displays the pair as downward biased, but it also appears to have bottomed at around 0.9200. Since December, the USD/CHF pair’s inability to break below 0.9200, forming a triple bottom, opened the door for a leg-up, though low liquidity conditions since the last week keep the USD/CHF pair unable to test the 0.9300 figure.
