5 days up
The USDCHF bottomed most recently on Thursday after getting close to the 100 and 200 day MAs (blue and green lines). The low came in at 0.9907. Since then, it has been 5 days higher. The price just reached 1.0026. That is the highest level since November 16th.
Drilling to the hourly chart below, the price rise today is extending up toward a topside trend line that has three different points on the line. That target is at 1.0030. There should be a pause on the test with stops/more buying on a move above (I guess we are within 4 pips at the high).
A move above would look toward the July 13 high from the day at 1.0067. Then the 2018 high at 1.01276 will be eyed (if the dollar run can continue).
What ruins the bulls party?
A move back below the parity level will likely spoil the mood for those looking for a 6th day higher. The 0.9970 is the broken 61.8% level. That too would not be welcomed.
