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USD/CHF eyes inverse H&S breakout – Société Générale
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FXStreet Forex & Commodities News
USD/CHF is consolidating after rebounding from its July low, with price action forming an Inverse Head and Shoulders pattern.
A clear break above the neckline at 0.8020 is needed to unlock further upside, while the 0.7870/25 zone remains pivotal support, Société Générale's FX analysts note.
0.8020 neckline key for upside"USD/CHF tentatively breached the July low of 0.7870 last month, but downward momentum quickly faded.
The pair is evolving within an Inverse Head and Shoulders pattern, which generally signals potential upside."
The recent pivot low around 0.7870/0.7825 now serves as a key support zone."