The USD/CHF pair is trapped between the downtrend line and the 0.9284 - 0.9301 area which represents a downside obstacle. In the short term, it could resume its sideways movement.
Jumping and stabilizing above the downtrend line may signal a new upwards movement. This scenario could bring new buying opportunities if the rate stays above 0.9284 - 0.9301 area. Dropping below this demand zone, under 0.9301 and 0.9284 former highs could announce a larger drop and could help the sellers to catch a larger drop.
USD/CHF Trading Conclusion!After its strong upwards movement, a temporary retreat was expected. As long as it stays above 0.9284 - 0.9301, USD/CHF could develop a new swing higher. Moving sideways and jumping above the downtrend line could announce potential growth towards 0.9434 former high.