FX.co ★ Jackroay | USD/CHF

Technical Analysis Usdchf H1 Time Frame: The USDCHF currency pair is currently trading around 0.8858, with technical indicators on the hourly chart favoring a bullish scenario. Despite the MACD being in the negative zone, there is a possibility of a price rebound from this level, potentially reaching 0.8935. If the price moves up to 0.8920 and holds, we could see further upside toward the 0.9010 level. However, if the breakout at 0.8940 proves to be false, the pair may retrace back to 0.8835. A solid hold above 0.8920 could signal a continuation towards 0.9000. Wishing everyone a profitable trading day and good mood! The situation with the USDCHF currency pair remains largely unchanged as we continue to trade within the broader upward trend. However, we still haven’t been able to establish a solid breakout above the 0.8810 level. After testing this resistance, the price has rolled back, forming a temporary consolidation around 0.8790. This suggests there’s still potential for further downside movement, and a reversal could be possible if the pair falls from here. Yesterday, the US dollar saw some strength, but we couldn’t break above the 0.8875 level, indicating that upward momentum is still somewhat limited. With a lot of economic data expected today from the US, there could be some volatility. Overall, I remain cautious and still leaning toward the bearish side. If the price manages to move back above 0.8865, I’ll look for opportunities to sell, anticipating a potential pullback or reversal.

Technical Analysis Usdchf D1 Time Frame: The USDCHF currency pair is still following the expected correction plan outlined earlier, with the balance of the day at 0.8824holding firm. As anticipated, the pair has not broken below this level and, despite not reaching the 0.8905 resistance on the H1 chart yet, it continues to show upward momentum. For now, the outlook remains aligned with the correction scenario, where the price could rise toward the resistance at 0.8900. Looking at the key levels, the balance of the day remains at 0.8810, with resistance on H1 at 0.8905 and support on H4 at 0.8710. The level of 0.8765 is important as a "difficult" level to watch; if the pair breaks through it, we may see a further decline toward the support at 0.8710. However, if 0.8765 holds, a reversal and continuation of the upward move could occur. If the balance of the day at 0.8810 is broken to the downside, the pair could quickly head toward the support at 0.8710, especially if it moves past the 0.8765 level. If 0.8710 holds, a rebound to the upside is expected. On the other hand, if the 0.8710 support is breached, further downside toward the D1 support at 0.8510 becomes a possibility. If the resistance at 0.8905 is successfully broken, this negates the correction scenario and opens the way for a potential rally toward 0.9010. For now, the general outlook remains neutral-to-bullish, with the pair still in a correction phase, but a breakout above 0.8910 would be the key to turning the trend more decisively upward.