Cabana Capitals Blog Technical Analysis Should we expect a breakout or a rebound on USDCHF?

Should we expect a breakout or a rebound on USDCHF?

Should we expect a breakout or a rebound on USDCHF? post thumbnail image

USDCHF is moving towards a support line which it has tested numerous times in the past. We have seen it retrace from this line before, so at this stage it isn’t clear whether it will breach this line or rebound as it did before. If USDCHF continues in its current trajectory, we could see it reach 0.8637 within the next 22 hours.

Supported by Downward sloping Moving Average

Target: 0.8637 Entry: 0.8654 Stop: 0.8694

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