USDCHF – Looking for a Head and Shoulders to form.
Monthly: For the last 89 months USDCHF has held within a bullish channel formation. Level close to 1.0330 continue to cap buying. A full AB=CD formation would the the pair to 1.1450. The psychological 1.0000 (Big Figure) continues to be pivotal and attract both sellers and buyers. Trend line support is located at 0.9520
Weekly: Mixed trading for the last 50 weeks has formed an Ascending Wedge formation that has an eventual bias to break to the downside. Trend line support is located at 0.9775, trend line resistance at 1.0157. A break of support and the measured move target is 0.9188
Intraday (4-hours): Possibly forming a bearish Head and Shoulder pattern. A break of the neck line (0.9912) and the measured move target is 0.9825