USDCHF 1.0068 – bullish – Triangle breakout points higher
USDCHF broke out of a 7-month triangle consolidation (during the week of October 26, 2015), extending strength towards the 1.3126 lower high (March 9, 2015). Above would retest the 1.0239 YTD peak (January 12, 2015). Further bullish momentum from there would expose 1.0640 (July 26, 2010 weekly high) near 76.4% of the 1.1730/0.7066 (June 2010 high/August 2011 low). Beyond rests the triangle breakout target at 1.0855. 0.9997 (November 9, 2015 weekly low) is the immediate support. A deeper retreat below there would expose risk a return to the .9800 triangle breakout point where buyers should step in.
Outlook:
Intraday: bullish
Daily: bullish
Weekly: bullish
USDCHF broke out of a 7-month triangle consolidation (during the week of October 26, 2015), extending strength towards the 1.3126 lower high (March 9, 2015). Above would retest the 1.0239 YTD peak (January 12, 2015). Further bullish momentum from there would expose 1.0640 (July 26, 2010 weekly high) near 76.4% of the 1.1730/0.7066 (June 2010 high/August 2011 low). Beyond rests the triangle breakout target at 1.0855. 0.9997 (November 9, 2015 weekly low) is the immediate support. A deeper retreat below there would expose risk a return to the .9800 triangle breakout point where buyers should step in.
Outlook:
Intraday: bullish
Daily: bullish
Weekly: bullish
