USD/CHF Price Analysis: There is a break to test at 0.9320 and 0.9290

Published On: February 24, 2023
  • USD/CHF bears are coming to the table following three days or higher closes. 

  • Look for a break of trendline support to move to Wednesday and Thursday’s lows.

USD/CHF is trading between key support and resistance on top of the prior week’s highs of 0.9331, potentially trapping breakout traders for a move to the downside with Wednesday’s highs near 0.9320 and Thursday’s low near 0.9290 eyed. The following illustrate the prospects of a move into three days of longs in the market for the closing session for the week:

USD/CHF H1 chart

The bearish thesis, while on the backside of the prior bullish trend and potential final phase from Thursday’s low in the third day of longs, L3, is a long squeeze for the day ahead to square the books before the weekend and ahead of the month’s end next week.

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