Aurum Markets Blog Technical Analysis Should we expect a breakout or a rebound on USDCHF?

Should we expect a breakout or a rebound on USDCHF?

Should we expect a breakout or a rebound on USDCHF? post thumbnail image

USDCHF was identified at around 0.8451 having recently rebounded of the resistance on the 4 hour data interval. Ultimately, the price action of the stock has formed a Channel Down pattern. This squeeze may increases the chances of a strong breakout. The projected movement will potentially take the price to around the 0.8195 level.

Supported by Downward sloping Moving Average

Target: 0.8195 Entry: 0.8451 Stop: 0.8618

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