USD/CHF: franc is at a crossroads

USD/CHF: franc is at a crossroads

On the USD/CHF daily chart bears managed to return quotes to the important support at 1.004. Breakout of the lower border of the upward trading channel can lead to the correction. The bulls don't lose hopes for the implementation of the targets in the Wolf Waves and Shark patterns. To implement them, they need to update April high. 

On the USD/CHF hourly chart, quotes went beyond the rising trading channel and formed a downward triangle. A successful test of its lower border can lead to the development of correction towards 0.995. 

Recommendations:

SELL 1,001 SL 1,0065 TP 0,995,

BUY 1,0085 SL 1,003 TP 1,02.

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