USDCHF hit a new low in this week, but it is now again reversing from this low. This could be the start of some larger and important turning point.
Notice that we are tracking a corrective decline from 0.9750 which is actually part of a much bigger contra-trend move on a daily chart where we are tracking a triangle within larger uptrend.
As such, we are ready on a bullish move on USDCHF, but would have to see further strength from here and through the upper falling channel line, as well as 0.9394 level to make sure that the lows are in.
The reading on the RSI is also interesting, where prices reversed from its own trend-line and suggests higher reading as we move forward.
USDCHF 4h chart
USDCHF Daily chart
