RLinda ! USDCHF-> The bulls are breaking through resistanc

23 בדצמ׳ 2022

USDCHF has been in a downtrend for a long time. The price forms a pattern that implies a breakthrough of resistance and the formation of an upward momentum

On the chart I marked the formation of a bullish set-up. The price is forming a consolidation and is breaking through the resistance of the downward wedge today. Below there is a support level at 0.9296, to which a technical pullback is forming.

I assume, if the bulls can hold the level of 0.9296, the price will start to recover under the pressure of buyers in the near future. The short-term target is the resistance level of 0.9436, the medium-term target is the level of 0.9544.

Regards to R.Linda!