USD/CHF - Channel Breakout

[johnblockbuster]

Setup Overview:
USD/CHF has completed a rising channel formation and is now showing signs of a bearish breakout below the lower trendline. The pair rejected the resistance zone near 0.7985 – 0.7970, confirming exhaustion in bullish momentum.

Technical Setup:
Pattern: Rising Channel Breakout
Cloud Cross: Adds bearish confluence
Resistance Zone: 0.7985 – 0.7970
Trendline: Clear breakdown structure visible on 30-min timeframe

Trading Plan:
Bias: Bearish below 0.7960
🟥 1st Support: 0.7925
🟥 2nd Support: 0.7906

Invalidation: A daily close above 0.7985 may negate this setup

Market Context:
1.The U.S. dollar faces minor pullbacks as traders await upcoming inflation data and FOMC signals.

2.Swiss franc gains slight safe-haven demand amid geopolitical and risk market concerns.

3. Technically and fundamentally, short-term sentiment favors a downside correction on USD/CHF.