USD/CHF: bearish outlook

The pair USD/CHF has so far breached support line from February lows. The pair is targeting 0.9215 (78.2% Fibo of this year’s advance) and below this point – 0.9150 and 0.9024 (2013 low). Before that there will be some support at 0.9250.

The main resistance is at 0.9350 (200-day MA, the breached trend line). This may be a good area to add to shorts. US dollar will remain under negative pressure as long as the pair trades below 0.9530. The next resistance is at 0.9605.

Chart. Daily USD/CHF

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