The recent uptrend in
USDCHF
took a break and reached all the way down to 1.0000 - an important round-number support.
In addition, this price also acts as a horizontal support of the previous attempts of the pair to push above parity.
Fibs show a 50% retracement at the moment, and the pair could continue to the upside if the 1.0000 levels gets decisively rejected. The bigger picture shows an inverse head and shoulders pattern, with the neckline at around 1.0150.
We'll follow this pair to see whether a long opportunity shows up.
USDCHF
took a break and reached all the way down to 1.0000 - an important round-number support. In addition, this price also acts as a horizontal support of the previous attempts of the pair to push above parity.
Fibs show a 50% retracement at the moment, and the pair could continue to the upside if the 1.0000 levels gets decisively rejected. The bigger picture shows an inverse head and shoulders pattern, with the neckline at around 1.0150.
We'll follow this pair to see whether a long opportunity shows up.
