FX.co ★ USD/CHF analysis for April 20, 2023 - Potential for the drop towards lower reference

Technical analysis:

USD/CHF has been trading downside this morning and I found potential for the further downside movement.

Due to the breakout of the triangle pattern in the background and the downside cycle in the background, I see potential for the further downside movement.

Downside objective is set at the price of 0.8875

MACD oscillator is showing downside momentum, which is sign for the further downside movement.

Key resistance is set at the price of 0.8980