Currency analyst

USD/CHF: bears feel like home

On the daily USD/CHF chart the pair teached 127.2% AB=CD target, after which it made a sizeable recoil to the downside. Inability of the bulls to hold above important support of 0.956 will increase risks of decline to 0.9485 (161.8%) and 0.94 (200%). The nearest resistance level is at 0.9595.  

On H1 USD/CHF is trading within a descending trend channel. The pair for now failed to reach 161.8% AB=CD pattern target, although the bears don't stop attempts to do that. Sellers will act at 0.9575, 0.9595 and 0.965.


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