USDCHF Technical Analysis
Price is hitting major resistance trend line from 2023
Dollar Index is overbought and It's expected for correction
USDCHF has been in a clear downtrend
Technical Points
Strong resistance at current level
Downtrend still intact
Swiss Franc showing strength
Trade Setup
Entry: Current market price
Stop: Above recent high
Target: Previous trend line support level
Bottom Line
Even though, Dollar has been in the strong uptrend recently, it's a Good opportunity to short USDCHF if you want to short dollar due to Swiss Franc strength vs dollar on longer time frame.
This is technical analysis only. Trade at your own risk.
Price is hitting major resistance trend line from 2023
Dollar Index is overbought and It's expected for correction
USDCHF has been in a clear downtrend
Technical Points
Strong resistance at current level
Downtrend still intact
Swiss Franc showing strength
Trade Setup
Entry: Current market price
Stop: Above recent high
Target: Previous trend line support level
Bottom Line
Even though, Dollar has been in the strong uptrend recently, it's a Good opportunity to short USDCHF if you want to short dollar due to Swiss Franc strength vs dollar on longer time frame.
This is technical analysis only. Trade at your own risk.
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.