FX.co ★ Daily analysis of USD/CHF for May 29, 2018

USD/CHF

On Monday, this pair did nothing significant except a sideways movement in the context of a short-term downtrend. However, a breakout is supposed to happen today or tomorrow, which would most probably favor bears. There is a Bearish Confirmation Pattern in the market, and the bias is bearish.

The market can thus reach the support levels at 0.9900 and 0.9850, thereby erasing the long-term bullish outlook on the market... However, for this to happen, there is a need for a strong bearish pressure.