Syorfx

USDCHF, will the parallel channel hold as a resistance?

Short
OANDA:USDCHF   U.S. Dollar / Swiss Franc
Price has broken out of the previous ascending trendline and has moved down towards the price zone of 0.96 and has made a bounce.

As price seems to have had a switch of buyers to sellers around the 0.965 zone,
a short from here would line up nicely with the support of the parallel channel, which could potentially act as resistance now

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.