USD/CHF is better bid at press time and looks to cross the psychological resistance at 0.98 with the daily chart reporting bullish conditions.

To start with, the inverse head-and-shoulders breakout confirmed earlier this week has created room for a rally to 0.9907 (target as per the measured move method).

Backing the bullish reversal pattern is the above-50 reading on the 14-day relative strength. Additionally, the 10-day average has crossed above the 50-day average, a sign of strengthening bullish momentum.

The bullish case would weaken if the spot drops below the Feb. 12 low of 0.9741, invalidating the higher lows setup.


Source:fxstreet