USDCHF - Technical Analysis: Thursday, 27/08/2015 09:14 GMT

The USDCHF pair moves inside a bullish triangle highlighted at the chart, this triangle’s resistance is located at 0.9970, and breaching it will allow the price to continue achieving the bullish bias on the short term and medium term basis, and attempt to recover the strong losses suffered at the beginning of this year.

The exponential moving averages 50 and 100 still provide the positive support to the price, but stochastic negativity might cause some sideways trading before attempting to breach the above mentioned resistance.

Breaking 0.8560 will weaken the chances of continuing the expected bullish trend.