USDCHF Short - Probable Trend ReversalWe have seen the intention of the dollar has turned towards a weaker tone last week.
USDCHF went into the 3-month supply zone last week and the price fell strongly on Friday.
The last bearish daily candle has confirmed a break below of a rising trendline which signals for a trend reversal.
Today, the price has retraced consistently and there is a significant resistance seen at 1.0055.
The price fell at first and probably has attracted more sellers to join in but as usual, the price took a turn and shot past the 1.0055 level.
As these short-term sellers are trapped, most would have their stop losses slightly above 1.0055.
So let's just wait out a little longer for the price to climb higher in order to trigger most of the stop losses at the top before we go in to sell again.
