Resolve
Senior member
- Messages
- 2,116
- Likes
- 3
Technical Analysis of USD/CHF: Rate Reaches Key Resistance Level
As seen on the USD/CHF chart, the pair has been moving within a descending channel (highlighted in red) since May.
In September, price action confirmed that the 0.84000 level, near the lower channel boundary, serves as strong support—after several unsuccessful attempts to break below it, the pair rebounded from point A to point B, rising by over 3% to the current level around 0.86750.
The U.S. dollar’s recent strength has been supported by:
→ Expectations of a Trump victory in the upcoming presidential election,
→ Rising yields on long-term U.S. Treasury bonds.
TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG
Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
As seen on the USD/CHF chart, the pair has been moving within a descending channel (highlighted in red) since May.
In September, price action confirmed that the 0.84000 level, near the lower channel boundary, serves as strong support—after several unsuccessful attempts to break below it, the pair rebounded from point A to point B, rising by over 3% to the current level around 0.86750.
The U.S. dollar’s recent strength has been supported by:
→ Expectations of a Trump victory in the upcoming presidential election,
→ Rising yields on long-term U.S. Treasury bonds.
TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG
Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
