Fundamental analysis

USD/CHF retesting sellers

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USD/CHF New Downtrend!

The USD/CHF pair increased a little in the last hours after reaching 0.9845. This level stands as a downside obstacle. Now, it’s almost to reach and retest the 0.9920 previous low and the downtrend line. These are seen as upside obstacles.

As long as it stays under the downtrend line, the rate could drop again. Jumping and stabilizing above the near-term obstacles may signal further growth in the short term.

USD/CHF Forecast!

Staying below the downtrend line and dropping under 0.9845 may signal a further drop. This scenario helps the sellers to catch a larger downside movement.

The material has been provided by InstaForex Company –