FX.co ★ Daily analysis of USD/CHF for June 4, 2018

USD/CHF

The USD/CHF pair trended downwards in the first few days of last week, and then started a bullish correction on May 30. Price went upwards by 200 pips in the context of a downtrend, but the movement was not significant enough to override the extant bearishness in the market (except the resistance line at 1.1800 is exceeded).

There is a Bearish Confirmation Pattern in the market, and that is supposed to hold for some time. The outlook for EUR pair is strongly bearish for this week and for this month, and so bulls should be careful.