💱USDCHF - The market is preparing for a support breakout

5 באוק׳ 2023

USDCHF breaks trend support and below forms another barrier. Consolidation and another retest of the lower line is forming, which may lead to a breakout and price decline to 0.90910 or 0.90225

TA on the high tamframe:
1) A retest of the 0.91202 level is forming after 3 months. There is not much chance that price will break this area on the first try
2) The liquidity area to which the price may head is below 0.91000.

TA on the low timeframe:
1) A break of trend support forms a sell signal
2) We are waiting for a break of the local zone 0.91350 to enter the market.
3) In the medium term, the price may quickly reach the 0.90225 area.

Key support📉: 0.91350
Key resistance📈: 0.91800