$USDCHF has been in consolidation mode for years. The most recent pattern of consolidation was a diagonal triangle - a triangle that is angled upwards. USD/CHF Daily Chart(click to enlarge)Bullish Breakout:- As we can see on the daily chart, price action has been in a triangle, but it had a slight bullish bias.- This bullish bias grew in late 2018 and into 2019. We can see that the RSI tagged above 70, and then held mostly above 40. - In 2019, price also started to hold above the cluster of 200-, 100-, and 50-day simple moving average (SMA). This was a bullish slingshot signal.- Also note that this slingshot kept price from falling back to the projected support. These were already strong signs that bulls were taking over.- In April, price rallied persistently and it broke above the triangle resistance.Still in Consolidation; Bullish Breakout Scenario:- As we can see on the weekly chart, price is still in a long-term consolidation with resistance at 1.0310.- USD/CHF has been held under 1.0310 since 2010.- I think the bullish push now will extend to at least 1.03. Then, we will have to see. - If price doesn't break above 1.03 at first and retreats, let's see what happens at 1.00. A hold above 1.00 would still maintain a bullish outlook. If price bounces off 1.00 and tests 1.03 again, I would think a breakout would be imminent.- A close above 1.0310 should put the 1.10 level in sight. This bullish outlook becomes stronger if we see price anchor above 1.03, and treat this previous resistance as support.USD/CHF Weekly Chart(click to enlarge)