USD/CHF remains under pressure after breaking below the 200-day SMA (0.8815) and failing to reclaim it. The pair has formed a bearish flag pattern, indicating the potential for further downside. The next key support level sits at 0.8750, which, if breached, could accelerate selling pressure.
Momentum indicators confirm the bearish outlook:
📉 MACD remains in negative territory, signaling weak momentum.
📊 RSI at 34.75 nears oversold conditions but hasn’t triggered a reversal signal yet.
Key Levels to Watch:
📌 Support: 0.8750 (critical level), 0.8650 (next downside target)
📌 Resistance: 0.8850 (recent swing high), 0.9010 (50-day SMA)
A break below 0.8750 could open the door for a deeper decline, while a bounce above 0.8850 would signal a potential recovery.
-MW
Momentum indicators confirm the bearish outlook:
📉 MACD remains in negative territory, signaling weak momentum.
📊 RSI at 34.75 nears oversold conditions but hasn’t triggered a reversal signal yet.
Key Levels to Watch:
📌 Support: 0.8750 (critical level), 0.8650 (next downside target)
📌 Resistance: 0.8850 (recent swing high), 0.9010 (50-day SMA)
A break below 0.8750 could open the door for a deeper decline, while a bounce above 0.8850 would signal a potential recovery.
-MW
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.