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.
[NP]![]("/Media/2/jpg/2008/10/USDCHF)
