USDCHF
Taking a look at the USDCHF HOURLY chart, the currency pair closed around the support level of 0.97124. This shows a possibility that the currency pair has formed a consolidating pattern between the exchange rates 0.97338 and 0.97124. The Aroon (14 period) is showing signs of further consolidation within the fibonacci retracement levels and increasing the possibility of a bounce-back. At the same time, the currency pair can break through this support level and head towards 0.96973 exchange rate (i.e, Fib level 0.618) and probably bounce back-up at this point.
Further confirmation needed when markets open.
Further confirmation needed when markets open.
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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.