The market continues to move near the lower bound of the green channel. It is likely that at the moment the bulls are gathering strength to overcome the resistance level of 0.991, which is formed by the moving average. In the case of a break above this level, the price will open a path towards the upper bound of the green channel and the resistance level of 1.002.[button link=”https://app.simplefx.com/login” size=”medium” target=”new” text_color=”#eeeeee” color=”#df4444″]SELL USDCHF[/button] [button link=”https://app.simplefx.com/login” size=”medium” target=”new” text_color=”#eeeeee” color=”#3cc195″]BUY USDCHF[/button]
However, if we see a market decline and a break below the support of 0.983, which forms the lower green bound, the bears will open the way to the bottom to the level of 0.974, located on the lower yellow wall.
