LegionQ8

Swiss Franc can break resistance level and then make retest

Long
FX:USDCHF   U.S. Dollar / Swiss Franc
Hello traders, I want share with you my opinion about Swiss Franc. By observing the chart, we can see that the price a few days ago and started to trades in the range, where it first declined to the 0.8910 resistance level, which coincided with the seller zone and the bottom part of the range. After this, CHF rebounded from this level to top part of the range, but when it reached this area, the price rolled down back. Next, the price exited from the range and entered a downward channel, where it broke the 0.8910 level and a short time later declined to support line of the channel. Then Swiss Franc bounced from this line and rose to the resistance line, where it at once rebounded and continued to decline to 0.8500 current resistance level. After the price fell to this level, CHF broke it and declined to 0.8330 points, after which it started to rise to this level. At the moment, the price trades close to the resistance level and I think that the Swiss Franc can break this level, and at once make a retest. After this, CHF will continue to move up, so I set my target at the 0.8700 level. Please share this idea with your friends and click Boost 🚀

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