RLinda ! USDCHF-> Consolidation in the short zone. Falling?

2 nov 2022

USDCHF lately shows strong weakening of the national currency against the dollar. The price is testing the important resistance zone from May 2022. False breakout and consolidation under the limit level is formed

We see on the main chart an ascending price channel, which coincides with the global trend.
Last week's retest did not leave a chance for the support of the channel and reached the local low at 0.98410.

The price forms sideways range and is testing the resistance zone. After the breakdown of the price channel I expect fall from the level of 1.00211

• The short term target is the support at 0.99169
  
• The next target is the level of 0.9859
  
• Long term target - liquidity zone of 0.9762
  

Sincerely R. Linda!