_VincentP_
Long

USDCHFpotential reversal?

FX:USDCHF   U.S. Dollar / Swiss Franc
We are at an area that has been a strong support on various occasions. Daily shows signs of oversold on RSI and Stoch . Price seems to consolidate at current levels but today's candle wasn't as convincing as I had hoped. 6th and 7th on the other hand were as well as yesterday's bullish candle.
Preferably I'd like to see a clear break and hold above the current downward channel . Somewhere around 0.9580.
If we can stay above this region I can see further upside to 0.9660 first and if that clearly breaks even 0.98 is in the cards in the coming weeks.

A break and close lower, sub 0.95, would cancel this setup and I'd be looking at a new short.
Trade closed manually: Manual close. We seem to have hit resistance that is too strong for now.
Comment: Well this went exactly as described. Break above 0.98 signals more Swiss weakness and an attack at the "mythical" level 1.
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