EDGE Chart of the Day – USDCHF – (September 28th, 2023)

<div><p><div><h2 itemprop="headline">False breakout in the Swissy?</h2><div><div></div></div></div><br />
<section itemscope="itemscope" itemtype="https://schema.org/BlogPosting" itemprop="blogPost"><div itemprop="text"><p>The USDCHF is at risk of a false breakout. The move above the .9150 is quickly reversing today as the sentiment was about as bearish we have seen in recent years (Daily Sentiment Index was at 5 on Wednesday). Price has moved far enough higher to squeeze shorts out of the market and entice new long trades. A close back below .9150 should target the 200dma or previous channel support near the .8970 level. Also, the weekly candle would show a false breakout (tomorrow) as well.</p>
<p><img decoding="async" fetchpriority="high" class="alignnone size-full wp-image-10815" src="https://www.forexanalytix.com/blog/wp-content/uploads/2023/09/USDCHF_2023-09-28_14-02-46.png" alt="" width="1466" height="839" srcset="https://www.forexanalytix.com/blog/wp-content/uploads/2023/09/USDCHF_2023-09-28_14-02-46.png 1466w, https://www.forexanalytix.com/blog/wp-content/uploads/2023/09/USDCHF_2023-09-28_14-02-46-400×229.png 400w, https://www.forexanalytix.com/blog/wp-content/uploads/2023/09/USDCHF_2023-09-28_14-02-46-800×458.png 800w, https://www.forexanalytix.com/blog/wp-content/uploads/2023/09/USDCHF_2023-09-28_14-02-46-768×440.png 768w, https://www.forexanalytix.com/blog/wp-content/uploads/2023/09/USDCHF_2023-09-28_14-02-46-705×403.png 705w, https://www.forexanalytix.com/blog/wp-content/uploads/2023/09/USDCHF_2023-09-28_14-02-46-450×258.png 450w" sizes="(max-width: 1466px) 100vw, 1466px" /></p>
<p>Blake Morrow</p>
<p>Our EDGE <a href="https://www.forexanalytix.com/blog/category/technical-analysis/chart-of-the-day/">“Chart of the Day”</a> feature highlights standout technical analysis patterns and price moves. This type of analysis could be helpful if you are interested in our Trader Funding Program where you can also join an elite group of traders at Forex Analytix, <a href="https://traderfundingprogram.com/?ref=blake">click here to learn more</a>. Trade our money, take 75% of the gains and none of the risk.</p>
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</div></section></p></div><section itemscope="itemscope" itemtype="https://schema.org/BlogPosting" itemprop="blogPost"><div itemprop="text"><p>Steve Voulgaridis</p>
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