USD/CHF Analysis

This analysis includes the price movement of the U.S dollar against the Swiss Franc on the daily and four-hour frames, and expectations about the future movement and market direction

The US dollar against the Swiss franc

On the daily time frame

The US dollar against the Swiss franc on the daily time frame did not breach the bearish trend to the upside and respected the price of 0.93340, and bounced downwards to complete the bearish trend.

On the 4-hour time frame

After respecting the downward resistance line and bouncing the price to the downside, it breached 0.92145 to confirm the bearish trend.

The support lines to await for this pair are:
-The first support line is at the price of 0.91004
-The second support line is at the price of 0.90228
-The third support line is at the price of 0.89337, which represents the last bottom of this pair

Breaking the last high recorded by the US dollar against the Swiss franc and closing above it will cancel the bearish scenario.

Tags : USDCHF