USDCHF remains in downtrend from 0.9783, the bounce from 0.9390 is treated as minor consolidation of downtrend. Range trading between 0.9390 and 0.9550 would likely be seen in a couple of days. As long as 0.9550 resistance holds, downtrend could be expected to resume and one more fall towards 0.9300 previous low is still possible. Only break above 0.9550 could indicate that the fall from 0.9783 had completed at 0.9390 already, then the following upward move could bring price back to 0.9600-0.9700 area.
Join the Discussion