The US dollar has recovered against the Swiss franc currency, following the recent policy address from Federal Reserve Chair Jerome Powell and bullish comments on the greenback from President Trump.
USD/CHF technical analysis shows that the pair remains trapped with a large ascending triangle pattern on the lower and higher time frames.
USD/CHF medium-term price trend
The USD/CHF pair has staged a comeback, after Federal Reserve Chair Powell ruled out negative interest rates and US President Donald Trump talked up the greenback.
USD/CHF technical analysis highlights that the pair remains technically bearish while the price trades beneath the 0.9790 level.
The daily time frame shows that a bearish breakout from a large ascending triangle pattern remains in play while the price trades beneath the 0.9800 level.
According to the size of the ascending triangle pattern, the USD/CHF pair could fall by around 400 points.
Bulls need to move the price back above the 0.9800 level to invalidate the recent bearish breakout. If this scenario occurs a rally towards the 1.0200 level could take place.
USD/CHF short-term price trend
USD/CHF analysis shows that the pair has a bullish bias while the price trades above the 0.9700 level.
The four-hour time frame continues to show that the price is working within a large ascending triangle pattern.
According to the size of the pattern, a 200 point directional move may take place once a breakout from the pattern takes place.
Bulls need to move the price above the 0.9800 level to force a bullish breakout, while bears need to move the price below the 0.9600 level to force a bearish breakout.
USD/CHF technical summary
USD/CHF analysis shows that ascending triangle patterns are unfolding across various time frames. Buyers need to move the price above the 0.9800 resistance level to force a bullish technical breakout.