USDCHF is in the consolidation triangle
USDCHF is in the consolidation triangle just above the strong support 0.9000. The pair is testing the triangle downside resistance line 0.9070 just above the long-term support line. For an upside reversal and higher probability long trade entries, we need to see a break above 0.9170. USDCHF reached 0.9000 after the rejection from the top 0.9900. The overall long-term is a downtrend now and a confirmed break below 0.9000 will lead to an extended continuation lower.
Note – We are inclined to long trade entries with the stop loss below 0.9000 and preferably upon a break above 0.9160
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