FX.co ★ USD/CHF: downside continuation

USD/CHF Challenges 0.9033 Downside Obstacle!

The USD/CHF pair dropped again after failing to reach the downtrend line. You knew from my previous analysis, the price could drop deeper as long as it stays below the downtrend line. Its failure to reach the downtrend line signals strong sellers.

The former low of 0.9033 represents a downside obstacle. The price turned to the upside after reaching this level.

USD/CHF Trading Conclusion!

Dropping and stabilizing below 0.9033 activates more declines and is seen as a selling opportunity.