EUR/CHF Showing Breakout Potential

[B]My picks:[/B] Watching for EUR/CHF Break
[B]Expertise:[/B] Fundamentals Combined With Technicals
[B]Average Time Frame of Trades:[/B] 1 Day - 1 Week

I’ve been looking at this trade since May 4, as EUR/CHF has spent a lengthy amount of time consolidating with a tight channel, though the pair has bounced from support at the 50% fib of 1.4586-1.5448 at 1.5017 on two occasions.

[B]Bullish parameters: [/B]Watch for a break above falling trendline resistance at approximately 1.5175/80. Upside potential may be limited due to resistance at the 200 SMA at 1.5276.

[B]Bearish paramters: [/B]Watch for a break below the April lows and psychological support at 1.5000 to target the 78.6% fib of 1.4586-1.5448 at 1.4772.

Traders should maintain appropriate risk/reward levels.