Bullish outlook on USDCHF: 22 September 2022

On the H1 timeframe, prices are approaching a key support level at 0.95, in line with the 78.6% Fibonacci retracement . The presents an opportunity to play the bounce to the resistance zone 0.988, in line with the 0.786 Fibonacci extension . A break above the upside confirmation level at 0.97 could provide bullish acceleration to the resistance zone at 0.988. Prices are also holding above the Ichimoku cloud , supporting our bullish bias.