USDCHF Analysis: Consolidation Phase Continues, Key Levels to Monitor
Following a touch of the 0.8885 resistance level, USDCHF retraced from 0.8892 and has since been consolidating for the uptrend originating from 0.8550.
As long as the critical support level at 0.8742 remains intact, the uptrend is likely to resume. A breakthrough of the 0.8892 resistance level could propel the price towards the 0.9000 area.
Conversely, a breach below the 0.8742 support level would signal the completion of the upward movement at 0.8892. In such a scenario, the next target area would be around 0.8600.