FX.co ★ Technical analysis on USDCHF for July 6th, 2023.

Green line -support

Red line -resistance

USDCHF continues to trade inside the triangle pattern we noted a couple of days ago. USDCHF is trading around 0.8951 after getting rejected at the upper triangle boundary around 0.8991. Short-term trend remains neutral as price continues moving sideways inside the triangle pattern. The fx pair is running out of space. Over the next couple of trading sessions I expect USDCHF to make a break out. The upper triangle limit is at 0.8991 and the lower limit at 0.8945. Traders must remain patient and not try to front run the market.