The USD/CHF chart is currently indicating potential signs of a bearish momentum, as it approaches a key support level.
Resistance Levels:
The 1st resistance at 0.8712 is categorized as a "Pullback Resistance" indicating its potential to hinder upward price movements. Beyond this, the 2nd resistance level at 0.8752 is identified as "Pullback Resistance" emphasizing its role as a substantial barrier to further advances.
Support Levels:
On the support side, the 1st support at 0.8638 is recognized as a "Pullback Support". This level suggests a zone where buying interest may emerge, potentially providing some support to the price. Additionally, the 2nd support at 0.8558 is also characterized by a "Multi-swing-low Support", reinforcing its significance as a substantial support zone.
