The Swiss Franc currency had a healthy 12% rally from March of last year into its recent January 6th high this year. However, since peaking last month this currency has now slowly drifted almost 3% lower. How much lower will it go? Let’s check out the continuation chart. Price action is currently trading at the upper end of a significant volume at price (V@P) cluster. If we look at all volume traded between the March 2020 low and the January 2021 high you will find the most volume was traded between 1.1037 and 1.0890. This V@P cluster has a point of control (POC) around 1.0980, which is the price level where the heaviest volume traded during a specific time frame. Most of this volume was created from the sideways price action between July and December of 2020. This consolidation phase saw prices break to the upside in early December, which shows traders were adding to their long positions. I expect this area to serve as support on the way back down. Other factors that could provide further support to this zone are the 200 DMA and the 34 EMA wave on the weekly chart. I would look for long trades anywhere inside 1.1037 and 1.0890 with special attention to the POC ~ 1.0980. This potential support zone falls apart with a move below 1.0851. Potential risk with an entry at the POC and a stop @ 1.0850 would be 1,625.00 per futures contract. An aggressive upside target on this trade would be the recent high around 1.1441 for a profit of 6,887.50. But there are two large V@P clusters to deal with on any move higher, which could be good levels to scale out of any multiple lot positions. Stay tuned for more updates on Twitter.