USDCHF (4H) - medium term bullish bias
The US dollar met stiff selling pressure near the June high of 1.0010. The price has retraced to the bullish trendline in hope of finding renewed buying interests. This line will act as a major support in conjunction with the psychological level of 0.9900. If the price finds enough momentum to bounce off, we can expect another attempt at the parity next week. However, should the bids get hit, we could see a deeper pullback.
Key support: 0.9900/0.9850
Key resistance: 0.9950/1.0000
The US dollar met stiff selling pressure near the June high of 1.0010. The price has retraced to the bullish trendline in hope of finding renewed buying interests. This line will act as a major support in conjunction with the psychological level of 0.9900. If the price finds enough momentum to bounce off, we can expect another attempt at the parity next week. However, should the bids get hit, we could see a deeper pullback.
Key support: 0.9900/0.9850
Key resistance: 0.9950/1.0000
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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.