But retreating a bit. May see some profit taking

The USDCHF extended above the topside trend line on the hourly chart at the 0.9808 level (see chart below). However, the price has since moved back below that strong trend line. The failure may be a sign that the price has extended to an area where buyers and sellers are more balanced. Watch the level. If the price cannot move back above and stay above, we could see some further corrective action back down toward the 0.9745-66 area. Test time for the pair.