One of last week’s EDGE Chart was the USD/CHF, which now that it is breaking higher is posting a move above the downtrend line and out of the descending wedge. This formation is bullish by design, and also has a RSI that is breaking a down trend line.

Also notice the 38% retracement on the weekly chart which we currently trade back above at the .8660 level.

 

Blake Morrow

Chief Currency Strategist, Wizetrade

 

Disclaimer, I have been long the USD/CHF since last Thusday