USDCHF 0.9273: 4-week falling channel remains intact
USDCHF extended the fall from 0.9718 (April 23, 2015 lower high) to 0.9072 (May 7, 2015 low), retracing 61.8% of the 0.8476/1.0126 rise, before consolidating. While the 0.9357 resistance area (May 12, 2015 high) caps, a breakdown below 0.9072 remains favored, extending the downtrend within a 4-week falling channel towards 0.8848 (near 76.4% of the 0.8476/1.0126 rise). It would take an upside push back above 0.9357 to stabilize.
Outlook:
Short term: bearish
Long term: neutral
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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.