USDCHF is trading inside a triangle pattern. Price has been steadily forming higher lows respecting the green upward sloping support trend line. This is also the lower triangle boundary. Resistance is at 0.90. So far support is being respected but a break below 0.8930 would be a bearish sign. A daily close below the green trend line will open the way for a move towards May lows at 0.8815. On the other hand if bulls manage to break above 0.90, then we should expect a bigger bounce maybe even above 0.9135.
The material has been provided by InstaForex Company – www.instaforex.com
Green line- support trend line
Red line- resistance trend line
USDCHF is trading inside a triangle pattern. Price has been steadily forming higher lows respecting the green upward sloping support trend line. This is also the lower triangle boundary. Resistance is at 0.90. So far support is being respected but a break below 0.8930 would be a bearish sign. A daily close below the green trend line will open the way for a move towards May lows at 0.8815. On the other hand if bulls manage to break above 0.90, then we should expect a bigger bounce maybe even above 0.9135.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: