FX.co ★ USD/CHF: Deeper Drop To Be Confirmed

USD/CHF Breakdown

The USD/CHF pair is falling at the time of writing, violating the uptrend line. As you already know, when the price is located above an uptrend line, it could resume its growth. In our case, the price moved somehow sideways and now it has dropped below the uptrend line which represented a dynamic downside obstacle.

0.9164 represents a downside obstacle as well. In the short term, it has stayed near the uptrend line signaling an imminent breakdown and a downside movement.

USD/CHF Trading Conclusion

Staying below the uptrend line and passing below the 0.9164 former low could activate a larger downside movement. This scenario could help sellers catch a selling opportunity.