FX.co ★ USDCHF continues its advance.

Last week we noted the break out above 0.9475 and price is already 100 pips higher. Trend remains bullish. Price has started the week on a positive note and the Dollar bulls seem to remain in control for the 4th straight week.

Black lines -bullish channel

Green line - horizontal resistance (broken)

USDCHF is in a weekly bullish trend. Price has broken above multi month highs and is in a break out phase. There is no sign of a top or even a short-term reversal. Traders better not trade against the trend. Bulls remain in control and next upside target could be around 0.9660. Support is at 0.9475 what was once resistance.