Technical analysis of USD/CHF 09/26/2019
USD/CHF currency pair broke through the lower border of the downward channel where finding the support at 0.9840 (MA200) on the 4H timeframe. After what the price rebounded and returned to the channel zone. At this point, the price is consolidating around the level of 0.9950 (MA200 on a 1D timeframe).
If the price breaks the resistance at 0.9950, there is reason to believe quotes will continue to rise to 1.0000.
Cancellation of the growth option will be a decrease below the level of 0.9840, what will indicate a breakdown of MA200 and could mean a possible change in the direction of the trend on the 4H timeframe.
Created by Joshua Hayn