Will the CHF bounce back down from the resistance?
Today, the CHF has risen up to the strong resistance level. A bounce back is a very probable scenario.
EUR/USD: bearish 'Flag' pattern
There's a local 'V-Top' pattern, so the price is declining. The main intraday target is the nearest support at 1.1616 - 1.1599. A pullback from this area could be a departure point for an upward price movement towards the next resistance at 1.1652 - 1.1675.
The market is consolidating along the Moving Averages. Also, there's a bearish 'Flag' pattern, so the price is likely going to reach the closest support at 1.1623 - 1.1599 in the coming hours. If a pullback from this area happens little later on, there'll be a moment to have another bullish rally.
Sergey Logachev
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