USDCHF Chart Approaches Some Critical Levels (Technical Analysis)

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During the previous trading weeks, the market moved down to the lower bound of the green channel.

The bears were not able to overcome the support level that forms this bound, and we saw an upward rebound. It is likely that the market is now moving in the direction of the upper yellow wall to the resistance level of 0.979.

If the specified price level is broken above, the market growth can be continued in the direction of the upper bound of the green channel and the resistance level of 1.002.

However, if the bulls lose their strength and the downtrend continues, we can expect a break of the support of 0.965 and a decline to the lower bound of the yellow channel and the level of 0.953.


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