FX.co ★ USD/CHF: temporary growth

USD/CHF New Downtrend!

The USD/CHF pair dropped deeper after falling below the uptrend line. Now, it is trading at the 0.9709 level at the time of writing. The downtrend line represents an upside obstacle. As long as it stays under this level, the rate could drop deeper. The 0.9671 low stands as a downside obstacle.

In the short term, it could come back to test and retest the downtrend line. Only jumping and stabilizing above the downtrend line may announce further growth and could invalidate more declines.

USD/CHF Trading Conclusion!

Staying below the downtrend line and dropping below 0.9671 could announce more declines. This scenario may help the sellers to catch a larger drop.