SimpleFX USDCHF Chart Analysis: September 24, 2019

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During the previous trading week, the market formed an uptrend that reached the upper bound of the yellow channel, then the price pushed off from this wall, and we saw a slight decrease in the direction of the lower red bound. If the decline continues in the near future and bears break through the support level 0.988, located on the lower red bound, the price will open a path in the direction of the lower wall of the yellow channel and the support level 0.967. However, if we see a rebound from the 0.987 level, bulls can re-reach the upper yellow bound and the 0.998 resistance level.

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