USDCHF: Technical Outlook & The Things to Watch
Because we got Labor Day in the US today,
we do not expect the market to be volatile.
Here is my mid-term technical outlook on USDCHF for you to follow:
From the beginning of summer, the pair is ranging.
0.8925 - 0.8935 is its support.
0.9265 - 0.9275 is its resistance.
Within that range, the price formed one more range.
Since August, the pair is trading within 0.901 - 0.925 area.
I spotted bearish accumulation signs recently.
With the sequence of lower highs and equal lows, the pair formed a descending triangle .
Look for its support breakout as your signal to sell.
Goals will be: 0.901 (August's low) / 0.8935 (Summer's low)
Alternatively, consider the boundaries of summer's range for buying/selling.