USDCHF sideways ahead of US GDP figures
The USDCHF currency pair price action sentiment appears bullish, supported by the longer-term prevailing uptrend. The recent intraday price action appears to be a sideways consolidation.
The key trading level is at 0.8946, the previous consolidation price range, and the rising support trendline zone. A corrective pullback from the current levels and a bullish bounce back from the 0.8946 level could target the upside resistance at 0.9033 followed by the 0.9050 and 0.9087 levels over the longer timeframe.
Alternatively, a confirmed loss of the 0.8946 support and a daily close below that level would negate the bullish outlook opening the way for a further retracement and a retest of 0.8913 support level followed by 0.8860.
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
The key trading level is at 0.8946, the previous consolidation price range, and the rising support trendline zone. A corrective pullback from the current levels and a bullish bounce back from the 0.8946 level could target the upside resistance at 0.9033 followed by the 0.9050 and 0.9087 levels over the longer timeframe.
Alternatively, a confirmed loss of the 0.8946 support and a daily close below that level would negate the bullish outlook opening the way for a further retracement and a retest of 0.8913 support level followed by 0.8860.
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.