USDCHF → Struggle for the 0.900 zone. Trend change? for FX:USDCHF by RLinda

USDCHF → Struggle for the 0.900 zone. Trend change?

earlier broke the uptrend when the fundamental background changed and the dollar went into correction. A set-up appears on the chart, which can strengthen the maneuver

Fundamentally, the situation is complicated because of the tariff war, which was organized by Trump, and European countries are reciprocating. Economic risks are on the rise. In addition, after Trump and Powell's hints about possible rate cuts, the dollar went into correction, which has a favorable impact on forex.
Technically, the 0.9000 level plays an important role as it is quite a strong zone. If the bears are able to keep the price below this mark, in the selling zone, it will be a confirmation of the trend change and the price will be able to head down.

Resistance levels: 0.9000, 0.9045, 0.9065
Support levels: 0.89157

I do not exclude the fact that the price may return to the range and test 0.5 Fibo, but the technical and fundamental background hints at a possible decline. Emphasis on 0.900.

Regards R. Linda!

RLinda

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