FX.co ★ USD/CHF Targeting New Lows!

USD/CHF is into a downtrend, so the outlook remains bearish, the pair could drop deeper in the upcoming period. The price has moved sideways in the short term signaling further drop. A range sideways movement within a downtrend represents a continuation pattern.

The current drop below the 0.9088 low has signaled further downside movement, the next target is seen at the 0.9000 psychological level.

• USD/CHF Trading Tips

The drop below the 0.9080 level has brought a selling opportunity with a first potential target at the 0.9000 level. A breakdown through the first target will open the door for a broader drop.

The outlook will remain bearish, USD/CHF could drop deeper, as long as the price stays below the downtrend line.