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: local 'V-Top' pattern
Bears faced with support at 1.2186, so the market is consolidating. At the same time, there's a local 'V-Top' pattern, which means the market is likely going to test the next support at 1.2164 - 1.2154 in the coming hours.
The price is declining because of the last 'Double Top' pattern. The main intraday target is the nearest support at 1.2186 - 1.2164, which could be a departure point for an upward correction.
Sergey Logachev
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