Swiss Franc can continue to decline to support line of channel

Sep 25, 2023

Hello traders, I want share with you my opinion about Swiss Franc. Looking at the chart, we can see how the price a few times ago traded inside the range near the bottom part, which coincides with the 0.8755 - 0.8780 buyer zone. Later price rebounded up to the 0.8870 support level, but at once bounced down and fell back to the buyer zone. After this movement, the Swiss Franc made an upward impulse higher than the support level, thereby breaking it. Also soon, the price exited from the support area and started to rise inside the upward channel, in which the Swiss Franc reached the resistance line and then started to fall to the support line. When the price declined to this line, it at once rebounded up to 0.9045 current support level. The Swiss Franc broke this level and rose to the resistance line of the channel, but a not long time ago it bounced down, where continues to tardes near the resistance line to this day. Probably Swiss franc can fall to the support level, break it, and then continue to decline to support line of the upward channel. For this case, I set my target at the 0.8985 level. Please share this idea with your friends and click Boost 🚀