USDCHF Pivot and break-out levels

The USDCHF pair has been trading within a Channel Down since mid-May. At the moment it is rising after a Lower Low on August 02 but remains limited below the 1D MA50 (blue trend-line). Last time the uptrend got rejected on the Internal Lower Highs trend-line. The 1D RSI is also trading within a Falling Wedge. As a result, below the Lower Highs trend-line, the trade is a sell targeting the 1W MA200 (red trend-line), while a candle close above is a buy targeting the top of the Channel Down.



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