FX.co ★ blaise.rogahn | USD/CHF

Hello traders, Yesterday, the bulls failed to develop a rebound to the north, despite forming a bullish engulfing pattern near the support at 0.7875 and activating it. There was no significant follow-through, as sellers re-entered the market and are currently exerting pressure to the south. Volatility has noticeably decreased, with markets once again in uncertainty amid the situation in the Middle East. We are awaiting an active start to negotiations between the US and Iran. Hopefully, the situation will clarify soon, and market activity will resume. At the moment, I am interested in scenarios involving selling USD/CHF near the key resistance level at 0.8000.