USDCHF ! Price is in a downtrend. Testing the resistance zone🥶
USDCHF is trading in a global downtrend. On the chart I showed the price channel in which the currency pair is and two zones: a resistance zone and a support zone.
We can see that the price is testing the resistance zone and there is a chance that a rebound from the resistance of the price channel will be formed.
I assume that since we have a strong downtrend, the price testing the resistance zone and the downtrend channel, we have to wait for the set-up, which will confirm the change of the local trend and show us the beginning of the fall. The short-term target is the support area at 0.9394.
Regards R.Linda!
We can see that the price is testing the resistance zone and there is a chance that a rebound from the resistance of the price channel will be formed.
I assume that since we have a strong downtrend, the price testing the resistance zone and the downtrend channel, we have to wait for the set-up, which will confirm the change of the local trend and show us the beginning of the fall. The short-term target is the support area at 0.9394.
Regards R.Linda!
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