USDCHF ! Retest. Will there be a breakout?

٢٣ أغسطس ٢٠٢٢

USDCHF is forming an interesting picture. We can see on the chart how the price breaks the global downtrend channel and the local uptrend format the price is testing the resistance at 0.96515.

It would be logical to expect that the price could have rolled back from this level and returned to the boundaries of the previously broken uptrend channel. But we have not noticed it; the price only consolidates above the earlier broken through boundary.

I suppose that the price can break through the resistance level after it has consolidated above the uptrend channel, so we should expect consolidation above the level of 0.96515 and then look for the entry point.

Regards R.Linda