USD/CHF: downside outlook intact

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USD/CHF Down Channel!

The USD/CHF pair increased a little in the short term after reaching the 0.9506 level. Now, it is traded at the 0.9543 level at the time of writing. The price could drop again as long as it stays under the downtrend line. It has reached the 0.9549 former low which stands as an upside obstacle. Technically, the downtrend line represents an upside obstacle as well.

On the downside, the 0.9506 today's low is seen as a downside obstacle. Personally, I'll wait for the price to break through the immediate obstacles before selling or buying.

USD/CHF Trading Conclusion!

Staying below the downtrend line and dropping below today's low of 0.9506 could announce more declines towards the down channel's downside line.

Only jumping and stabilizing above the downtrend line and above the 0.9580 could invalidate more declines and could signal an upside reversal.


Trading analysis offered by RobotFX and Flex EA.
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