USDCHF → The dollar may strengthen the currency pair

FX:USDCHF   U.S. Dollar / Swiss Franc
USDCHF pinches the local bottom at 0.85797 and makes a false breakdown, which realizes the countertrend potential at the moment of dollar strengthening. The price strengthens to 0.87779 and forms a setup that can continue the price growth

The bearish trend is still valid on the chart. The price is trading under the descending resistance. Pay attention to the dollar index, the price is forming resistance at 102.5 relative to the dynamic buyer. A breakout of this level by the dollar will form momentum in the forex market as well.
I expect a breakout of the symmetrical triangle resistance and active strengthening of the price against the trend.

Support levels: 0.87000
Resistance levels: 0.87779

I think that following the strengthening of the dollar the USDCHF currency pair will start to strengthen and in the medium term the price may reach 0.89088.

Regards R. Linda!



You❗️CAN and ❗️SHOULD make money in trading!

Join me, I'll guide you to PROFITABLE TRADING💵!

🟢Free Telegram Channel:


🧿Web: rlinda.com

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.