USDCHF: weekly review (12/12)
Tatiana Norkina, FBS analyst
Daily. The currency pair has corrected to the support of the Kijun-sen line, after updating the annual extremes. A slow-down figure "high wave" has formed at the 0.9650/60 level, that may contain the bears' pressure. However, a break through this level will mean further development of a corrective rate decline into the area of the upper cloud border.
Oscillators are set to fall as well.
Chart. Daily USD/CHF
H4. On the 4-hour timeframes, trades have moved inside the Ichimoku cloud. The relevance of the dead cross and the narrowing range of the cloud allow to suggest that, in case the lower cloud border falis to hold the pair at the current levels, we might see the prices move into the negative zone and, possibly, the rate decreasing below the 96th figure already at the beginning of the next week.
Chart. H4 USD/CHF