FX.co ★ USD/CHF drop could be over soon

USD/CHF Trying To Retest The Buyers!

The USD/CHF pair drops after finding strong supply around 0.9319 level. Now, it's trading at 0.9268 level below the 0.9273 obstacle. Stabilizing below it may signal a deeper drop in the short term towards the downtrend line.

On the other hand, stabilizing above the 0.9273 former high may signal that the current decline ended and that the USD/CHF pair could start increasing again. The retreat could be only a temporary one and it was natural after its amazing growth.

USD/CHF Trading Conclusion!

The currency pair could develop a new upwards movement if it stabilizes above 0.9273 or after reaching and retesting the downtrend line. The current drop could help the buyers to buy USD/CHF from around the near-term downside obstacles.