As it can be illustrated from the 3H timeframe graph of USD/CHF, the price is currently testing a local zone of resistance that lines up with the upper barrier of the formed ascending channel. Taking a closer look into it, we can observe that the price has been successful in rejecting that zone. Thus, we are aiming for opening SELL positions and targeting the lower boundary of the channel.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.