USDCHF: On the verge of a breakout.

USDCHF is trading on and under the 1D MA50 after the rejection on the 1D MA100 which also happened to be the top of the 1D Channel Down. The 1D technicals are neutral (RSI = 50.625, MACD = 0.000, ADX = 19.636) which indicates that the price will most likely commit to the direction of the next breakout.

If it closes under the HL line, sell and target the 1.5 Fibonacci level (TP = 0.86550). If the candle closes over the 1D MA100 (hasn't done so since November 10th 2022), buy and target the 1D MA100 (TP = 0.92150).


Prior idea:

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