Overview:
Frame time: Daily.
USD/CHF: It should be said that these levels are coinciding between 00% and 23.6% of Fibonacci retracement levels in daily chart. Moreover, it should be noted that the price has still been trapped between 0.9100 and 0.9170 and below strong resistance at the level of 0.9279 (0.9333: 38.8% of Fibonacci retracement levels in daily chart), and the pair has already formed a strong resistance at this level of 0.9280 and it is now approaching it in order to test it. Therefore, the Swissy will have a downside momentum, it is rather convincing and the structure of the fall does not look corrective. In order to indicate a bearish opportunity below 0.9280 (the weekly resistance 1) for it will be a good sign to sell below 0.9280 with the first target at 0.9125 and it will call for downtrend in order to continue bearish movement towards 0.9050 (it should be noted that the level of 0.9021 will form double bottom at the daily frame time). Furthermore, the price at 0.9030 will possibly form a strong support (0.9021: 100% of Fibonacci retracement levels in daily chart). Thus, there will be saturation around 1.9030 to rebound the pair, and it will probably mean that the market is going to start showing bullish signs. In other words, it will be a good sign to buy above 0.9030 with the first target of 0.9140 and continue towards 0.9215.
