USDCHF broke last week support around 0.9550, which repeatedly halted declines last year. The quotes have tested this week lows from 2016 at 0.9943 falling only 5 pips below this level.
Just after the test of last year’s minima back to game entered bulls which increased activity is visible both during yesterday and today’s session. As a result, new highs were created this month.
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Taking control by bulls can mean moving to the nearest horizontal resistance within 0.9830. Growth may be limited by the trend line extending from this year’s high. Another significant resistance after defeating the aforementioned levels is visible near 1.0100.
