01.10.202407:26 Forex Analysis & Reviews: Technical Analysis of Intraday Price Movement of USD/CHF Main Currency Pairs, Tuesday October 01, 2024.

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If we look at the 60-minute chart of the main currency pair USD/CHF, we can see some interesting information that appears, first, the detection of a deviation between the price movement of USD/CHF and the RSI(5) indicator, second, the appearance of a Bullish 123 pattern followed by several Bullish Ross Hook (RH), and third, the appearance of a Bullish Pitchfork so that based on these three facts, USD/CHF in the near future has the potential and opportunity to strengthen upwards where the level of 0.8465 will be tested to be penetrated upwards if this level is successfully broken then USD/CHF has the opportunity to continue its strengthening to the level of 0.8493 as its main target and if the momentum and volatility support it then USD/CHF will head to the level of 0.8493 and/or its Middle Pitchfork Line but all of these strengthening scenarios will be invalid and canceled by themselves if suddenly USD/CHF weakens and breaks below the level of 0.8430.

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