Technical analysis of USD/CHF 05/07/2020

The USD/CHF currency pair on the 4-hour timeframe is in a flat trend and is trading in the channel 0.9600 – 0.9800. Currently, the price is consolidating around 0.9750 and is trying to resist the upper border of the channel at 0.9800. If the pair manages to break through this level, the next resistance will be the area at the level of 0.9900 (March maximum). If the pair fails to break the resistance of 0.9800, then most likely the price will go to the lower border of the channel to the support level of 0.9600 and if it breaks, then the next significant support will be the level of 0.9500

USDCHF_STPH4

Created by Joshua Hayn

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