The USD/CHF chart shows bearish momentum, indicating a downward bias in price movement.
There is potential for further bearish continuation towards the first support level at 0.8986, which is an area of overlap support and is reinforced by a 50% Fibonacci retracement level. Additionally, the intermediate support level at 0.9029 aligns with the 61.8% Fibonacci retracement, further supporting its role as a potential barrier.
Furthermore, the second support level at 0.8955 adds to the strength of the downward momentum. It represents another area of overlap support and coincides with the 61.80% Fibonacci retracement level.
On the upside, the first resistance level at 0.9118 acts as a significant level of resistance, serving as an area of overlap resistance.
Similarly, the second resistance level at 0.9200 reinforces the potential for resistance, also representing an area of overlap resistance.
