USDCHF – Daily Forex Technicals by ForexHound.com May 30th

USDCHF on the daily chart has formed a triangle between a higher resistance trendline connecting swing lows and swing highs from as early as last November; and a lower trendline that marks a strong support zone with this years lows. At the moment the pair is trading very close to the resistance trendline and we should look very carefully at price action these days to see if there is enough momentum to break to the upside of this triangle; USDCHF on the daily chart has formed a triangle between a higher resistance trendline connecting swing lows and swing highs from as early as last November; and a lower trendline that marks a strong support zone with this years lows. At the moment the pair is trading very close to the resistance trendline and we should look very carefully at price action these days to see if there is enough momentum to break to the upside of this triangle; such a break will open up the road to a bigger push north aiming at the 1.011 level. Conversely if the resistance is proooving to be to strong we’ll have to look once again at opening short trades with a target at the lower trendline.

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