- USD/CHF Price Analysis: Bulls in charge while on top of trendline support
Market news
2 May 2023
USD/CHF Price Analysis: Bulls in charge while on top of trendline support
- USD/CHF bulls eye a move into the M-formation´s neckline.
- Bears seek a break of key trendline support.
USD/CHF has slid into support and is meeting a trendline that is coming under pressure and exposing the 0.8915 and 0.8905 support structures as the following will illustrate.
USD/CHF daily chart
The price is trying to break out of the trendline resistance as shown above, which makes for a bullish bias while above the micro trendline support structure. 0.900 is key in this regard as the bulls need to get above there.
USD/CHF H4 chart
Meanwhile, the 4-hour chart is seeing resistance as 0.8950 as being the neckline of the M-formation:
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