USDCHF is in a sharp downtrend, but price got rejected twice from 0.9157 level and started moving sideway in a rectangle pattern.
As you see in the chart, the sideway zone is broken out to the upside and price is fixed above the pattern.
On the other hand, there is a resistance level at 0.9273, and price failed to break it. We should wait for price to break this level and close a candle above it, to expect more rise.
If price had a retest to 0.9218 and there was any bullish signal in the lower time frames, we can expect a rise on USDCHF towards the red resistance zone, and in the case of an upside breakout on the resistance (0.9273), the next target would be 0.9319
As you see in the chart, the sideway zone is broken out to the upside and price is fixed above the pattern.
On the other hand, there is a resistance level at 0.9273, and price failed to break it. We should wait for price to break this level and close a candle above it, to expect more rise.
If price had a retest to 0.9218 and there was any bullish signal in the lower time frames, we can expect a rise on USDCHF towards the red resistance zone, and in the case of an upside breakout on the resistance (0.9273), the next target would be 0.9319
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