USDCHF Pushed Above 1.1485

USDCHF has moved strongly in yesterday’s US session breaking above the double top we have marked on our charts at 1.1485, after making the move the pair started a small consolidation just above the support level; this pattern looks like a bullish flag on the smaller timeframes but after yesterday’s 200 points move it needs to take a "breather".

USDCHF has moved strongly in yesterday’s US session breaking above the double top we have marked on our charts at 1.1485, after making the move the pair started a small consolidation just above the support level; this pattern looks like a bullish flag on the smaller timeframes but after yesterday’s 200 points move it needs to take a "breather".  Next bullish target is the resistance trendline forming the channel around the 1.1600 price zone; conversely, falling below the 1.1485 support will open up the lower trendline as a natural short term target.

 

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