USDCHF Breaks Ascending Channel – Bearish Move Expected
The USDCHF pair has broken below an ascending channel, signaling a shift in momentum. If the price will retest the zone at 0.91200, which previously served as channel support, this area may now act as resistance, aligning with a potential bearish continuation.
The market structure suggests further downside if the rejection holds at the current levels. I anticipate that the price will move downward toward the 0.90276 level, which represents a logical target for this setup.
This setup aligns with the idea of a trend reversal after a channel break, offering a shorting opportunity on rejection from resistance.
The market structure suggests further downside if the rejection holds at the current levels. I anticipate that the price will move downward toward the 0.90276 level, which represents a logical target for this setup.
This setup aligns with the idea of a trend reversal after a channel break, offering a shorting opportunity on rejection from resistance.
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