Daily chart
USD/CHF struck a new low again during yesterday's session, this time reaching 0.9095 before recovering. However, the outlook remains bearish and apparently the Swiss franc gained ground, because as we mentioned yesterday and our comment line 3/8 (green line) either to be the bottom line of its range of the trend or to be priced below the bearish scenario we have, and the price of 0.9155 (resistance) becomes important to consider. On the other hand, we also observed a decrease in the oscillator strength and oscillator also trend downward direction.
H4 chart
After the hammer was formed during the last 4 hours, this chart also shows that downward pressure still remains active. On the other hand, the fact that USD/CHF is showing bullish trends also indicates that buyers are beginning to take center stage, however as mentioned, there was found significant resistance, in this case the line 4/8 (blue line) which becomes an important area that set the tone for the trend to continue, so it would be too risky to go buying at these levels.
H1 chart
Finally the 1-hour chart shows USD/CHF isat the top of its trend channel after having returned from its low point during the session yesterday. There is a high probability that this downward trend will continue until the substrate is in your line green uptrend at 0.9065 or even ends at the line 2/8 (red line) (Murrey lines). While it does not close above the price of 0.9155, we think the outlook will continue to be bearish.
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Email:antonio.inga@analytics.instaforex.com
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