USDCHF Double Top

The pair reached the previous high at 1.1490 and formed a double top on the 4 hour charts, the high is also a resistance level provided by the upsloping trendline we’ve mentioned in some previous posts. The short term bias is bearish and we’re looking at the 1.1400 area as first support and after that at the lower trendline around the 1.1350 level with a final target at 1.1275.

The pair reached the previous high at 1.1490 and formed a double top on the 4 hour charts, the high is also a resistance level provided by the upsloping trendline we’ve mentioned in some previous posts. The short term bias is bearish and we’re looking at the 1.1400 area as first support and after that at the lower trendline around the 1.1350 level with a final target at 1.1275.

 

[NP][/NP]