USDCHF: Bearish – Falls sharply towards the May lows
USDCHF declines sharply from .9383 (June 15, 2015 lower high) to threaten the .9078/.9071 (May 14/7, 2015 lows) support zone (as shown on the 240 minute chart). Further weakness from there would expose the 61.8% retracement of the entire .8299/1.0126 rise at .8990. The .9224 level (near the 3 day falling trendline) should cap bounces. Only an upside break above there would caution bears and extend recovery towards the .9324 area near the 3-month falling trendline. Above there is needed to turn the long-term structure bullish.
Outlook:
Short term: bearish
Long term: neutral
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.