USD/CHF technical analysis: Risk environment sends USD/CHF higher again

• The price has bounced off the trendline support for a second time.
• The pair is trading 0.28% higher on the session as the risk mood remains positive.

USD/CHF 1-Hour Chart

USD/CHF is pushing higher in the EU session as the risk rally continues.

Gold, CHF and JPY are all trading lower as the FTSE 100 and DAX have pushed higher today.

Looking at the technicals on the chart, it was previously touted that this trendline was an important support.

Today the level has been used again and pushed higher. As you can see by the arrows on the chart the level has been significant.

In terms of support and resistance levels, The main area of resistance is 0.9979 is the previous wave high. 

For the trend to continue higher that level needs to be taken out. The main area of support is 0.9923 as if this level break it would create a lower high lower low formation.

Additional Levels