USDCHF Price Action – Potential Buy Setup at Key Level | Oct 23

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USDCHF – Potential Buy Setup On a Pullback Level (4hr chart)
Looking at the chart below, we can see a clear role reversal level which provided support early this month, resistance 3x last week, flipping to support again after the double bottom from this latest swing up.

By and large, the last price action leg up was heavily impulsive and non-volatile with a small corrective move today. If we see a corrective pullback towards that role reversal level, we may have a good chance for a false break setup (2nd attempt) to get long.

Upside targets would be 9550 and 9600. A break below this level would put 9400 back into play.

usdchf

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