FX.co ★ Technical Analysis of Daily Price Movement of USD/CHF Main Currency Pairs, Monday September 04,2023.

The main currency pair USD/CHF is currently moving in a bearish condition. This is clearly seen from the price movement which is moving in the Bearish Pitchfork channel, which dips down to the bottom, besides that the rally that occurred a few days earlier has formed an Ascending Broadening Wedge pattern, which indirectly gives an indication that the current strengthening is only temporary and has started to weaken so based on these facts in the near future USD/CHF has the potential to weaken down to the level of 0.8551 but if on the way down it suddenly strengthens that exceeds above level is 0.9055, the downside scenario described previously has the potential to become invalid and cancelled automatically.

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