USDCHF oversold bounce back support at 0.7957The USDCHF remains in a bullish trend, with recent price action showing signs of an oversold bounce back within the broader sideways consolidation.
Support Zone: 0.7957 – a key level from previous consolidation. Price is currently testing or approaching this level.
A bullish rebound from 0.7957 would confirm ongoing upside momentum, with potential targets at:
0.8050 – initial resistance
0.8068 – psychological and structural level
0.8094 – extended resistance on the longer-term chart
Bearish Scenario:
A confirmed break and daily close below 0.7957 would weaken the bullish outlook and suggest deeper downside risk toward:
0.7940 – minor support
0.7915 – stronger support and potential demand zone
Outlook:
Bullish bias remains intact while the USDCHF holds above 0.7913 A sustained break below this level could shift momentum to the downside in the short term.
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
