FX.co ★ USD/CHF

Hello traders, let's continue monitoring the USD/CHF chart. After a long period of uncertainty, buyers seem to be pushing the price further, although I had previously considered medium-term sales. Currently, the price is at the level of 0.774, above significant support. Now, if buyers manage to break the resistance at 0.789, a channel to daily levels will open. However, for this to happen, buyers need to break and hold above the peak at 0.797. If the bulls fail to sustain their pressure, we will likely see a trend reversal or a deep correction soon, providing a good selling opportunity. In a downward scenario, sellers need to break the support at 0.761, below which the price may drop to the buyers' zone at 0.743.