💱 USDCHF - Expect a rebound from trend support
The USDCHF is attempting a bearish trend reversal. The price meets strong resistance on its way and forms a consolidation.
TA on the high timeframe:
1) False break of the strong moving average 4 days ago. A pin bar candlestick is formed.
2) There is a local uptrend, which continues an attack on the resistance at 0.90625.
TA on a low timeframe:
1) Price pulls back to the support zone
2) Wide area of liquidity in the chart on the left could push price back within the uptrend
3) The 0.9022 level plays an important role. There could be a rebound or a false breakout
Key support: 0.9022
Key resistance 0.90625
TA on the high timeframe:
1) False break of the strong moving average 4 days ago. A pin bar candlestick is formed.
2) There is a local uptrend, which continues an attack on the resistance at 0.90625.
TA on a low timeframe:
1) Price pulls back to the support zone
2) Wide area of liquidity in the chart on the left could push price back within the uptrend
3) The 0.9022 level plays an important role. There could be a rebound or a false breakout
Key support: 0.9022
Key resistance 0.90625
Related publications
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.