FX.co ★ USD/CHF: upside reversal in play

USD/CHF Downtrend Line Breakout!

The USD/CHF pair developed strong growth after failing to approach and reach the channel's downside line. Now, it has managed to jump above the downtrend line signaling strong buyers. Technically, the downtrend line represented an upside obstacle.

Also, failing to approach and reach the downside line signaled exhausted sellers and that the buyers could take the lead.

USD/CHF Trading Conlusion!

Stabilizing above the broken downtrend line and above 0.9311 may announce a larger growth. The breakout is seen as a potential buying opportunity. This could announce an upside reversal.