Chart of the Day $USDCHF

On the USDCHF daily chart, we can see that the pair is testing the wedge top and a confluence of the long-term horizontal resistance 1.0050-1.0100 zone. This zone, if it is to be broken to the upside on a daily close basis, could lead to an extreme upside extension. Rejection from here would lead to a pullback and the near-term test of the 0.9900 level. RSI negative divergence is supportive.
Note: Look for the short trade entries with the stop loss above the 1.0100 level.

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