USDCHF – Inside Bar After Break Below Major Support | Apr 29
USDCHF – Break Below Major Range Support Level (4hr chart)
For the first time in almost two months, we’ve had our first daily close below the key range support level at 9500. This was an impulsive breakout, and I’m suspecting there will be more downside following a brief pullback.
The pair has consolidated off the lows forming an inside bar down there, but the 95 handle now becomes a tough role reversal level IMO. So look to get short on rallies into this level.
Downside targets are today’s lows, 9327 and 8845.
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