FX.co ★ USD/CHF

The southern sentiment in the USD/CHF currency pair remains. Buyers attempted to start an upward movement overnight, but so far without success. Of course, it is still early to draw conclusions as trading has just begun, but there are currently no prerequisites for a northward reversal. Currently, USD/CHF sellers are pushing the price back below 0.7690, making a decline to 0.7660 and 0.7630 a real possibility. Further consolidation below 0.7630 will allow the bears to push down to 0.7600, and one would hope they won't go even lower, but that remains to be seen. The downward movement will be canceled (probably temporarily) if buyers manage to firmly establish above 0.7690-0.7700, giving them a chance to rise to 0.7720. Upon successful breakthrough of 0.7720, the upward movement may continue to 0.7735, 0.7750, and 0.7770. It is too early to think about reaching more distant northern targets, as the sentiment still remains bearish.