Decisive week for USDCHF

Apr 16, 2023

USDCHF broke long term trendline support with previous touches in Jan 2015 and Jan 2021 in the weekly timeframe.

It seems to be heading to a retest of that trendline (watch daily and 4H charts). If it tests and price action gives a bearish pattern in the 4H or daily, it should continue its downward trend towards 0.87560 and potentially 0.83612.

If it closes above trendline, it will likely retest resistance at 0.94430.

Apr 19, 2023

Note

Price is currently "dating" the trendline turned resistance but it did not react strongly in any direction and therefore therefore no signals present themselves for the moment.