USDCHF Price Action – Forms Pin Bar Off Support | Nov 5
USDCHF – Pin Bar Off Support (4hr chart)
After pulling back from the yearly highs and double top just shy of 9700, the pair found some bulls who would pick up the bid and try to take out the 9700 figure. In the process, the pair formed a pin bar off support and key role reversal level.
For now, 9685/90 is key resistance, with multi-year resistance at 9750 and 1000. If bears come in strong just under 9700, we may see a move back down to support today around 9687. If 9700 folds, then there should be some more selling around 9750. Beyond this, there is a lot of space up towards the big figure at 1000.
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