USDCHF is in a downtrend in the 4-hour timeframe. It's following a channel, that it has touched and respected severally. It has also been in a short-term uptrend and respecting an ascending trendline which it broke upon bouncing off from the upper line of the channel. The price is also currently at a resistance level. If it manages to break this level and close below it, chances are high that the downtrend will continue to around 0.88840 or 0.88340.
Note
The target has been reached.
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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.