USD/CHF Technical Analysis – Are we close to breaking out of the consolidation range?

The pair has been trading within a tight horizontal range between 0.80757 and 0.78719 for some time now, with neither buyers nor sellers showing a lack of momentum, reflecting a clear balance between supply and demand where the market is yet to determine a clear direction.

therefore:

up:
A break above the 0.80757 level and a hold above it could be a sign that buyers are starting to take control, which could push the price towards 0.81710 if the positive momentum continues.

down:
A break above the 0.78719 level and holding below is likely to tighten the sellers’ grip, which could open the door for further declines and possibly targeting the 0.75 level.

=====================================================================

Any opinions, news, research, analyses, prices or other information contained are general market commentary and do not constitute investment advice. ThinkMarkets disclaims all liability for any financial loss or damage (without limitation) or for any loss of profits arising directly or indirectly from the use of or reliance on such information.

Source link