USD/CHF Price Analysis: Eyes more gains as greenback bulls violate Inside Bar at 0.9350.

• Upside violation of an Inside Bar after a firmer rebound indicates intensive buying ahead.
• Greenback bulls have defended the 200-EMA at 0.9300.
• For an upside, the RSI (14) needs to break 60.00.

The USD/CHF is continuing its five-day winning streak on Friday as the asset has already overstepped Thursday’s high at 0.9350. The pair is witnessing a firmer rally after sensing a strong rebound from March 31 low at 0.9195.

On a daily scale, USD/CHF has triggered an inside bar candlestick formation after violating 0.9350. The Upside explosion of an inside bar candlestick pattern after a strong rebound indicates a continuation of a bullish trend. The trendline placed from January 13 low at 0.9092, adjoining March’s low at 0.9150 will continue to act as major support for the counter.

The asset has also sensed support from the 200-period Exponential Moving Average (EMA) at 0.9220. While the 20-EMA is overlapping with the asset prices, which signals a volatility contraction going forward.

The Relative Strength Index (RSI) (14) seeks a break above 60.00, which will set a bullish ground for the major.

Should the asset violate the weekly high at 0.9353, greenback bulls will send the asset towards the March 28 and March 17 highs at 0.9382 and 0.9431 respectively.

However, a slippage below the 20-EMA at 0.9300 will drag the major towards the April 5 low at 0.9238, followed by the March 31 low at 0.9195.

USD/CHF daily chart