USDCHF may reverse after being in a range for over 1 month
Hello Traders,
The USDCHF has been trending down since the start of last December. The bears slowed down in January and we have been in a range for over a month.
Price was contained between 97672 and 96286.
On February 7th, we broke above this range and price which indicated the first sign of bulls taking control.
Recently on February 21st, we see a strong bear candle, coming back to our broken upper range at 97672.
This is a very key level. If the bulls bounce up from this level, we might be able to jump into an early stage of a trend.
The USDCHF has been trending down since the start of last December. The bears slowed down in January and we have been in a range for over a month.
Price was contained between 97672 and 96286.
On February 7th, we broke above this range and price which indicated the first sign of bulls taking control.
Recently on February 21st, we see a strong bear candle, coming back to our broken upper range at 97672.
This is a very key level. If the bulls bounce up from this level, we might be able to jump into an early stage of a trend.