FX.co ★ blaise.rogahn | USD/CHF

USDCHF The pair was trading in a descending trend channel here, breaking the upper boundaries multiple times, indicating a possible correction. Bulls are gaining momentum. The upper boundaries of the trend channel were broken, and the pair formed a range here. Limit orders were triggered when the pair attempted to move below the range, then the pair hit the buyer's stops. It started to rise when it reached the upper boundary of the range. There was selling volume here, and the pair started to decline, with a very active downward movement. The pair reached the support at 0.85669, and there is no selling volume here now. Such a decline indicates the exhaustion of the buyer's volume. I think that if selling volume appears, the pair will start to rise. For now, I believe there will be a decline to the support at 0.84366.