Much like some other major currency pairs, price action on USD/CHF, a daily chart of which is shown, has formed a triangle consolidation pattern. Currently, price is right around the vertical middle of this converging consolidation, potentially preparing for a key directional move. Any substantial downside break of the triangle should meet immediate support in the 1.0600 price region. To the upside, a breakout above the top border of the triangle with momentum could target further resistance around the 1.1115 support/resistance region.
FX Path
Subscribe
Categories
Archives
Recent Comments
- Forex Broker Analysis on EUR/USD - Heading for 1.4500, Correction Due
- Sanjay on EUR/USD - Heading for 1.4500, Correction Due
- ig index on EUR/CHF - Hits Support within Bearish Trend
- Wilson on Technical Carry Trade Articles
- dpinkert on USD/JPY - Breakout to the Upside
Tags
FXstreet.com Weblogs
Links
Technical Trading Tips and Techniques by 
