The USD/CHF could approach and reach fresh new highs if the Dollar Index resumes its growth. Making a valid breakout through the 0.93 psychological level signals a potential growth towards the WL1. Better than expected US data could boost the USD/CHF pair. The USD/CHF price rose as high as 0.9294 level today, and it may attempt to acquire the 0.93 psychological level. Technically, the price is strongly bullish as the Dollar Index is bullish. -Are you looking for the best CFD broker? Check our detailed guide- DXY’s further growth may force the pair to approach fresh highs. We have a strong correlation between the US Dollar Index and the USD/CHF. In the early morning, the price fell a little because the Dollar Index retreated after reaching dynamic resistance. Still, the bias is bullish after better than expected US retail sales data. Furthermore, the USD could accelerate its rally if the Prelim UoM Consumer Sentiment comes in better than expected today. Also, the Prelim UoM Inflation Expectations indicator will be released as well. Dollar Index price technical analysis: Bulls gaining ahead Dollar Index 4-hour price chart The Dollar Index is trading in the green at 92.94 level, and it’s pressuring the second warning line (wl2), which represents strong dynamic resistance. Making a valid breakout through it could activate further growth. Get FREE Forex Signals Now! This scenario indicates that the USD should appreciate versus its rivals. Only a false breakout through the second warning line (wl2) followed by a new lower low 92.76 may invalidate an upside continuation. USD/CHF price technical analysis: Bullish trend intact USD/CHF 4-hour price chart The USD/CHF price rallies at the moment of writing, located above the 150% Fibonacci line of the ascending pitchfork and above the weekly R2 (0.9286) level. In my previous analyses, explained that the price should extend its growth if it makes a valid breakout through these upside obstacles. -Are you looking for forex robots? Check our detailed guide- In the short term, we cannot exclude a temporary decline. The price may come back down to test the broken levels before jumping higher. The 0.9300 psychological level is seen as an immediate resistance, upside target. Closing above it may signal further rise towards the first warning line (WL1). Only invalidating the breakout through the 150% line could indicate that the upside movement is over. Looking to trade forex now? Invest at eToro! Trade Forex Now! 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Saqib Iqbal Saqib Iqbal Saqib Iqbal is a market analyst, prop fund trader and mentor, serving the industry with his analysis and educational content since 2011. The author has great exposure to different financial markets and institutions. He's well-known for his day trading reviews and multiple timeframe analysis. View All Post By Saqib Iqbal Majors share Read Next FTSE Price Prediction: A Descent Likely As Perfect Storm Approaches Gerald Fenech 1 year The USD/CHF could approach and reach fresh new highs if the Dollar Index resumes its growth. Making a valid breakout through the 0.93 psychological level signals a potential growth towards the WL1. Better than expected US data could boost the USD/CHF pair. The USD/CHF price rose as high as 0.9294 level today, and it may attempt to acquire the 0.93 psychological level. Technically, the price is strongly bullish as the Dollar Index is bullish. -Are you looking for the best CFD broker? Check our detailed guide- DXY’s further growth may force the pair to approach fresh highs. We have a… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.