USDCHF Testing The 1.1400 resistance

USDCHF has already tested the resistance area around 1.1400 on Thursday and Friday but failed to push through, now we are looking at a perhaps third attempt to print a new high and close above. The pair is trading above a significant support at 1.1250 and this also makes price action interesting to observe; at the start of the week one can expect a decent move and closely observing price action can show us the way to go, consolidations are a continuation signal and the short term trend is bullish, however if the pair fails to move higher soon, will reinforce the resistance levels and add bearish pressure thus clearing the ground for a retracement if not a reversal movement.

USDCHF has already tested the resistance area around 1.1400 on Thursday and Friday but failed to push through, now we are looking at a perhaps third attempt to print a new high and close above. The pair is trading above a significant support at 1.1250 and this also makes price action interesting to observe; at the start of the week one can expect a decent move and closely observing price action can show us the way to go, consolidations are a continuation signal and the short term trend is bullish, however if the pair fails to move higher soon, will reinforce the resistance levels and add bearish pressure thus clearing the ground for a retracement if not a reversal movement.

 

[NP][/NP]