USD/CHF – Corrective Channel Break Holding (4hr chart)
Yesterday in the members trade setups commentary, we talked about the USD/CHF breaking the corrective channel, and that this would likely lead to a bullish move from here.
We suggested buying on a pullback between 9250 and 93. As you can see from the chart below, this is exactly what happened as the pair hit an intra-day low of 9280 before bouncing solidly.
Weak pullbacks into the channel top and today’s lows may be a 2nd opportunity to buy. A solid bounce from here would put pressure on 9475 and just shy of 95.
A break below yesterday’s lows and into the channel would create a neutral to slightly bearish bias ST.
