USDCHF Rolls Over Following Test of Key Resistance
If sellers secure a close back below horizontal support at 0.9770, we could see the pair slide back toward 0.9435.
On the other hand, a close above trend line resistance near 0.9800/20 would suggest a continuation of the September rally and expose key resistance at 1.0100.
Keep in mind that the USDCHF is coming off of multi-year range support at 0.9435. The level has been instrumental in directing price action since August of 2015. That means any push lower from current prices could encounter significant buying pressure on the way down.
Source: bit.ly/2wKL26j
On the other hand, a close above trend line resistance near 0.9800/20 would suggest a continuation of the September rally and expose key resistance at 1.0100.
Keep in mind that the USDCHF is coming off of multi-year range support at 0.9435. The level has been instrumental in directing price action since August of 2015. That means any push lower from current prices could encounter significant buying pressure on the way down.
Source: bit.ly/2wKL26j
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