The main trend is bearish and price is in a correction phase in the form of an ascending channel.
Currently, price failed to make a higher high to reach the channel's upper band.
We are facing a downside pressure and if price breaks the channel's lower band and closes a bearish candle below the yellow support zone at 0.9174, we expect a drop to 0.9150 and in the case of a downside breakout on this level, the next target would be around 0.9120
What is your outlook on USDCHF?
Feel free to share your ideas in the comments.
Currently, price failed to make a higher high to reach the channel's upper band.
We are facing a downside pressure and if price breaks the channel's lower band and closes a bearish candle below the yellow support zone at 0.9174, we expect a drop to 0.9150 and in the case of a downside breakout on this level, the next target would be around 0.9120
What is your outlook on USDCHF?
Feel free to share your ideas in the comments.
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