The USD/CHF currency pair remains in a bullish trend, supported by the longer-term uptrend. However, recent intraday price action has been consolidating near the previous breakout zone, signaling a potential buildup before the next directional move.
Bullish Scenario:
The key level to watch is 0.8950, which aligns with the previous consolidation range and the support trendline zone.
A corrective pullback toward 0.8950, followed by a bullish bounce, could reinforce the uptrend.
If buyers regain control, upside targets include 0.9050, followed by 0.9074, with 0.9120 acting as a key longer-term resistance.
Bearish Scenario:
A confirmed breakdown below 0.8950 on a daily close would weaken the bullish outlook.
This could trigger a deeper retracement toward 0.8913, with further downside potential extending to 0.8860 if selling pressure persists.
A sustained move below 0.8860 could indicate a broader shift in trend, increasing the risk of further declines.
Conclusion:
While the overall trend remains bullish, the ongoing sideways consolidation suggests a potential retest of 0.8950 before the next move. A bounce from this level could reaffirm the uptrend, while a break below 0.8950 would expose further downside risks. Traders should monitor price action around this critical support zone for confirmation of the next trend direction.
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
Bullish Scenario:
The key level to watch is 0.8950, which aligns with the previous consolidation range and the support trendline zone.
A corrective pullback toward 0.8950, followed by a bullish bounce, could reinforce the uptrend.
If buyers regain control, upside targets include 0.9050, followed by 0.9074, with 0.9120 acting as a key longer-term resistance.
Bearish Scenario:
A confirmed breakdown below 0.8950 on a daily close would weaken the bullish outlook.
This could trigger a deeper retracement toward 0.8913, with further downside potential extending to 0.8860 if selling pressure persists.
A sustained move below 0.8860 could indicate a broader shift in trend, increasing the risk of further declines.
Conclusion:
While the overall trend remains bullish, the ongoing sideways consolidation suggests a potential retest of 0.8950 before the next move. A bounce from this level could reaffirm the uptrend, while a break below 0.8950 would expose further downside risks. Traders should monitor price action around this critical support zone for confirmation of the next trend direction.
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.