FX.co ★ blaise.rogahn | USD/CHF

A significant decrease in the price of USD/CHF was observed today at the start of the trading week against the news that the US and Iran have agreed to sign a peace deal. The price has already tested local support at 0.7920. I expect a noticeable bounce to the upside from here, but I am not opening long positions yet as I anticipate a potential further drop to the next support at 0.7900. I am prepared to enter long positions from there, with a target for the price to eventually rise to 0.7967. This is where a price gap has formed, which is likely to be filled sooner or later. For now, we are just waiting on the sidelines.