USD/CHF Analysis 28/9/21
This analysis includes the price movement of the U.S dollar against the Swiss Franc on the weekly, daily, and four-hour frames, and expectations about the future movement and market direction
The US dollar against the Swiss franc on the weekly time frame is still in a general bearish trend.
The price is trading near the downward resistance line, which suggests a rebound to the downside.
On the daily frame:
In case the downward resistance line and the previous high located at 0.93340 are not breached, we will remain on the bearish scenario for this pair.
In case the previous high is breached the price of 0.93340, the US dollar against the Swiss franc will head to the second high, which in turn represents a very important resistance line from which this pair bounces about 540 points down.
The objective of the analysis on the 4-hour time frame of this pair is to identify the nearest support line and the trend in the short term.
The USD/CHF is in an uptrend in the short term (bullish sloping support line)
The nearest support line is at 0.92145, which also represents the last lower high for this pair, and if it breaks down, we will take a negative signal, which will push this pair downwards.
Tags : USDCHF