USD/CHF Minor Drop!
The USD/CHF pair dropped in the short term. Technically, a temporary downside movement was expected after its strong growth. Still, the current drop could be only a temporary one. The uptrend line stands as a downside obstacle. As long as it stays above it, the currency pair could climb towards new highs, it could resume its uptrend.
The minor downtrend line represents an upside obstacle, that's why it could come back down towards the uptrend line as long as it stays below this line. The 0.9819 today's high stands as an upside obstacle as well, while today's low of 0.9757 represents a downside obstacle.
USD/CHF Trading Conclusion!
Staying above the uptrend line and jumping above the downtrend line and above the 0.9819 could announce an upside continuation and could bring new buying opportunities.
Only dropping below the uptrend line and under the 0.9757 could invalidate an upside continuation and could activate a larger downside movement.
