Symbol - USDCHF
USDCHF is confirming a reversal of its prior downtrend and appears poised to transition into a distribution phase, supported by strength in the US Dollar Index.
The dollar is currently breaking through resistance and may continue its bullish correction within the broader long-term downtrend. Against this backdrop, the Swiss franc is gradually losing momentum.
The currency pair is exhibiting signs of a local trend breakout, with the breach of the ascending triangle’s resistance level reinforcing bullish sentiment. Within this developing distribution phase, the price may attempt to retest recent local highs.
Resistance levels: 0.8071, 0.8132
Support levels: 0.8000
A sustained consolidation above 0.8000 could establish an intermediate base, offering additional support for bullish continuation in the next upward movement.
USDCHF is confirming a reversal of its prior downtrend and appears poised to transition into a distribution phase, supported by strength in the US Dollar Index.
The dollar is currently breaking through resistance and may continue its bullish correction within the broader long-term downtrend. Against this backdrop, the Swiss franc is gradually losing momentum.
The currency pair is exhibiting signs of a local trend breakout, with the breach of the ascending triangle’s resistance level reinforcing bullish sentiment. Within this developing distribution phase, the price may attempt to retest recent local highs.
Resistance levels: 0.8071, 0.8132
Support levels: 0.8000
A sustained consolidation above 0.8000 could establish an intermediate base, offering additional support for bullish continuation in the next upward movement.
Trade closed: target reached
Target has been reached.
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Disclaimer
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.
Trading isn’t a gamble. When skill meets discipline - profit becomes the natural outcome.
Join me, I'll guide you to PROFITABLE TRADING.
Connect with me directly on WhatsApp: +91-9915885530
Join my free Telegram group: t.me/akshit_official
Join me, I'll guide you to PROFITABLE TRADING.
Connect with me directly on WhatsApp: +91-9915885530
Join my free Telegram group: t.me/akshit_official
Disclaimer
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.