Home Polls & Quizzes USDCHF: Will the Broken Level of Support Be the Resistance

USDCHF: Will the Broken Level of Support Be the Resistance

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USDCHF has been on a strong bearish trend on the daily chart. The day before yesterday’s daily candle made a strong breakout at the level of 0.98055. This is a neckline level of a double top as well.

The price has been heading towards the neckline level to have a correction. The sellers are going to eagerly wait to get a daily bearish reversal candle right at the neckline level to go short on USDCHF.

On the other hand, the price where it had a bounce after the breakout, it is a level of weekly support. It may create a buying pressure and breach the level of resistance.  Let us have a poll on this.

Scenario 1: The neckline level will be held and produce a bearish daily reversal candle.

Scenario 2: The neckline level will be breached by the daily candles.

USDCHF: Will the Broken Level of Support Be the Resistance

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