FX.co ★ USD/CHF

Technical analysis of USDCHF Today I choose USD/CHF for technical analysis. Currently, market prices are falling. The Dawn trendline helped the price drop. This trend line has done a lot to push the market price down. The market price broke above the resistance level, and currently, the market price is pulling back after reaching the trend line with support at 0.8545. If the market price fails to break above this support level, the market price rises above the trend line, which will help the price fall. At this point, the market price has started to rise above this support level, and the market price may move higher in the future, but the trend line that helped the price fall will need to be broken. In this case, it is confirmed that the market price will rise above this trendline in the coming period, and the price will break above the 200-day simple moving average.

If the market price is visible on the 1-hour time frame, the market is currently falling, and the market price is leaving the structure, helping its price drop. At this point, the market price on the chart is closing, and the market price is falling with the help of the trend line. If the market does not break below the price level and does not break the trendline, it will confirm that the market price can move upwards. The indicators used on the charts continue to appear. Market prices are currently closing above the 50-day simple moving average. The indicator used in this chart : 50-day simple moving average color Navy: 200-day simple moving average color Chocolate: RSI indicator period 14: