The swissie is rallying higher and given the strength of the up-move over recent days it looks likely to continue. One possible target is the upper channel line at 0.9235 with the 0.9300 highs next. There are some bearish factors, however, predominantly due to resistance from the 100-day MA, bearish divergence with momentum and the near completion of a TD Combo setup, and a move lower would be expected to target the lower channel line at 0.9150.

Analysis prepared by:

Joaquin Monfort
Forex4you analyst