USD/CHF Price Analysis: Bulls await a sustained move beyond 0.9765-70 supply zone

Summary:
USD/CHF trades with a positive bias for the fourth consecutive session. The 0.9700 mark might now act as a strong base for bullish traders. The USD/CHF pair edged higher for the fourth consecutive session on Thursday and is currently placed near one-week tops, levels just below mid-0.9700s. Any subsequent positive move is likely to confront stiff resistance near the 0.9765-70 region (testing twice in January) and kept a lid on any further gains. The mentioned barrier coincides with 38.2% Fibonacci level of the 1.0024-0.9613 downfall, which if cleared might be seen as a key trigger for bullish traders. Moreover, technical indicators on hourly/daily charts have been gaining positive traction and support prospects for an extension of the ongoing momentum. Hence, some

Topics:
Haresh Menghani considers the following as important: 1) SNB and CHF, 1.) FXStreet on SNB&CHF, Featured, newsletter

This could be interesting, too:

Vibhu Vikramaditya writes Navigating the Slippery Slope: How Hoover’s Interventions Paved the Way for the Great Depression

Ryan McMaken writes Frédéric Bastiat Was a Radical Opponent of War and Militarism

Douglas French writes Millennials: In Costco We Trust

Joseph T. Salerno writes What Fed “Independence” Really Means