USDCHF: Bearish Accumulation & Breakout
Updated
As the majority of XXXUSD pairs,
USDCHF looks very bearish:
the pair is trading in a bearish trend since the beginning of July.
From the last week, the pair started to consolidate.
The price formed a classic bearish accumulation pattern - descending triangle.
With a sequence of lower highs and equal lows, bears were preparing for a breakout.
Today minor horizontal support is finally broken.
The price set a new lower low lower close and bearish continuation is expected now.
Next goal - 0.9005
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