USD/CHF Ready to Bounce? Eyes on January Trendline
USD/CHF has been in a near-term downtrend since late September, now finding itself on a rising support range from the beginning of this year.
A bounce off the trendline could pave the way for a push higher back towards a long-term falling resistance line from April 2019.
Still, a bearish Death Cross seems imminent between the 20- and 50-period Simple Moving Averages. These could hold as key resistance in the event of a bounce from here.
Breaking under the rising trendline from January exposes the 0.9019 - 0.9038 support zone, consisting of August lows. Below that sits the 0.8926 - 0.8952 zone, which is made up of May and June lows.
USDCHF
A bounce off the trendline could pave the way for a push higher back towards a long-term falling resistance line from April 2019.
Still, a bearish Death Cross seems imminent between the 20- and 50-period Simple Moving Averages. These could hold as key resistance in the event of a bounce from here.
Breaking under the rising trendline from January exposes the 0.9019 - 0.9038 support zone, consisting of August lows. Below that sits the 0.8926 - 0.8952 zone, which is made up of May and June lows.
USDCHF