- March 18, 2022
- Posted by: Tradingshot Articles
- Category: Forex
The USDCHF pair has been trading within a Channel Up since June 16 2021. This week it hit and so far got rejected on the Higher Highs (top) trend-line of the Channel. Technically we should see the pull-back extending as low as the Higher Lows zone. A reasonable target is just above the zone at 0.9200.
See how well the RSI can give buy signals on its Support Zone and sell signals (such as the current) on its Resistance Zone.
A break-out above the Channel Up, should set in motion a short rally towards the 1.236 and 1.382 Fibonacci extensions at 0.95325 and 0.95775 respectively.