USDCHF – Sell Into Resistance in Bearish Channel

Trade Idea

• Type: Sell Limit
  
• Entry: 0.7989
  
• Target: 0.7905
  
• Stop Loss: 0.8018
  

Duration: Intraday
Expires: 09/07/2025 06:00

Technical Overview

• The primary trend remains bearish, and price is currently trading within a corrective channel formation, suggesting further downside potential.
  
• Trendline resistance at 0.7995 aligns closely with the entry point of 0.7989, providing a strong technical barrier to cap gains.
  
• The recent weakness in the US dollar supports a continued bearish outlook for USDCHF.
  
• A break below support zones could accelerate a move toward the target at 0.7905.
  

No significant events are scheduled in the next 24 hours, allowing technical patterns to dominate intraday trading.

Key Technical Levels

• Resistance: 0.7991 / 0.8020 / 0.8050
  
• Support: 0.7958 / 0.7922 / 0.7900
  

Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.