USDCHF → An ascending triangle that could break the trend

17 במאי 2023

USDCHF forms a break of the downtrend and the currency pair smoothly moves into the sideways range of 0.90000-0.88700. The currency pair sends the preconditions for a possible strengthening.

An ascending triangle is formed, the key resistance level is 0.89950. If this area is broken, the price may form an active upward impulse with increased volatility and volume.
The dollar against the background of positive fundamental data is strengthening and thus pulling the USDCHF.
Moving averages are acting as support

Strong support: MA-200, 0.89500.
Strong resistance: 0.89950, triangle resistance
I expect that the price will continue attacking the resistance, and after the next attempt the currency pair might finally break it.

Regards R. Linda!