USDCHF ANALYSIS OVER H4 CHART.
USDCHF bounces from the support.
This year, USDCHF is rising after breaking a significant trendline that was linked to the highs of 2022 on a daily chart. A breakthrough of this trendline would raise prices inside the large triangular range.
The pair appears to be in a greater degree corrective setback following a completed five-wave rally and broken trendline, based on the 4-hour chart. We are following an A-B-C corrective slide, with wave C currently hitting the first 0.8900 support zone, suggesting that there may be some short-term price stability. However, a strong rebound above the 0.9 mark and a break out of the channel are necessary for a positive restart. The next region of support, in the event of a deeper and longer C wave, would be around 0.87 to 0.86. Either way, we believe that this year's CHF downturn will persist, maybe even against the USD and a few other currencies.
This year, USDCHF is rising after breaking a significant trendline that was linked to the highs of 2022 on a daily chart. A breakthrough of this trendline would raise prices inside the large triangular range.
The pair appears to be in a greater degree corrective setback following a completed five-wave rally and broken trendline, based on the 4-hour chart. We are following an A-B-C corrective slide, with wave C currently hitting the first 0.8900 support zone, suggesting that there may be some short-term price stability. However, a strong rebound above the 0.9 mark and a break out of the channel are necessary for a positive restart. The next region of support, in the event of a deeper and longer C wave, would be around 0.87 to 0.86. Either way, we believe that this year's CHF downturn will persist, maybe even against the USD and a few other currencies.
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