FX.co ★ USD/CHF Downside Reversal In Play!

USD/CHF Strong Drop!

The USD/CHF pair dropped aggressively after failing to stay above the uptrend line. You knew from my previous analysis that the currency pair could have developed a downside reversal if it dropped below the uptrend line and below the 0.9887 former low.

After this massive drop, we cannot exclude a temporary increase. It could come back to test and retest the 0.9700 and 0.9750 psychological levels before dropping towards new lows. A minor rebound could help sellers to catch a new downside movement.

USD/CHF Trading Conclusion!

The aggressive breakdown below 0.9887 was seen as a selling opportunity. Now, only a temporary rise could bring a new selling signal. The 0.9557 lower low represents a downside target.