EUR/CHF Rally Targets 0.9379 as Medium-Term Bottom Confirmed

The EUR/CHF currency pair is continuing its upward trend, and experts at ActionForex are predicting further gains. The current rise from 0.8979 has already reached 0.9264, and traders expect it to target a 100% projection of this move at 0.9379.

In the bigger picture, the break of a medium-term falling trend line resistance suggests that 0.8979 is now a medium-term bottom. With bullish convergence in the W MACD indicator, the rise from there should at least reverse the fall from 0.9928 and potentially develop into a medium-term uptrend.

ActionForex advises traders to remain on the upside as long as support at 0.9094 holds, with a firm break of resistance at 0.9394 adding more credence to the prospect of an uptrend.