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U.S. Dollar / Swiss Franc
Short

USDCHF → A retest of trend resistance. Probable rebound

By RLinda
Updated
USDCHF strengthened as the Swiss franc went into correction due to the actions of the central bank, which is trying to protect the currency from excessive strengthening.

Technically, the dollar is in the phase of correction, which may stop in the near future and the index may go back to the strengthening phase, but against this background the Swiss franc growth looks stronger, as this currency is considered as a hedge asset, which just in the crisis times was used by investors.
Technically, as long as the structure of the downtrend is not broken and a false break of resistance is formed, I would consider a bounce from the upper boundary of the channel to the zone of interest at 0.8885.

Resistance levels: 0.9010, 0.9050
Support levels: 0.892, 0.885

Bears can hold the resistance of the downtrend. The fundamental backdrop is still the same and in general may be maintained for some time, which may allow us to catch a downward movement to the mentioned target

Regards R. Linda!
Trade active
snapshot
Trade active
Oh, that's great. The bears are keeping the price outside the channel. Waiting for the target to be reached
Trade closed: target reached
Chart PatternsconsolidationDescending ChannelDXYfalsebreakoutFibonacci RetracementFundamental AnalysisSupport and ResistanceTrend AnalysisUSDCHFZigzag
RLinda
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