31.10.2023 10:54 AM
The USD/CHF pair increased within an up channel. As you can see on the h1 chart, the rate dropped below the uptrend line signaling that the upwards movement ended. Its failure to reach and retest the channel's upside line announced exhausted buyers.
Now, it stands right above the former low of 0.9014 which represents a key downside obstacle.
Dropping and stabilizing below 0.9014 may announce a larger drop. This could be seen as a selling opportunity.
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