USD/CHF Price Analysis: Surges from 0.8900 ahead of SNB’s policy

The USD/CHF pair recovers strongly from the round-level support of 0.8900 and jumps to near 0.8930 in Monday’s early New York session. The Swiss Franc asset strengthens as US Dollar (USD) clings to gains and the uncertainty over the Swiss National Bank’s (SNB) policy outcome.

Sentiment is: Positive

Technical Analysis

USD/CHF is heading towards the resistance line of a Channel Down. If this movement continues, the price of USD/CHF could test 0.8909 within the next 20 hours. It has tested this line numerous times in the past, so this movement could be short-lived and end up rebounding just like it did in the past.

Should we expect a breakout or a rebound on USD/CHF?

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