Daily chart
After a good substantial recovery during the yesterday’s session, the U.S. dollar lost ground again during today's session against the Swiss franc. Thus, the USD/CHF pair is currently trading below its daily pivot and below the center line of the uptrend channel that presupposes a bearish scenario that could well last until its S -3 daily which is located at 0.9006. Also note a decrease in the oscillator strength and trend and likely in the coming days the bears again prevail over the bulls.
4-hour chart
In the 4-hour chart we note that the USD/CHF is below the weekly pivot, it is undoubtedly a resistance and therefore limiting a possible uptrend. However, if the next 4 hours the pair closes above its weekly pivot, it would result in a bullish continuation. On the other hand, MACD momentum indicators tell us the address.
1-hour chart
Finally on the 1-hour chart the USD/CHF pair is currently on line 5/8 (green line) Murrey. It comes to be the top line of its trading range. Moreover, we also have the centerline of its trend channel and as we notice the price has experienced a slight retraction from these levels, so while the pair does not exceed the line 5/8 we can still say that the downward trend continues and this pressure could bring about 100 pips down to 0.9000 level. Moreover, a possible upward will be limited by the line 6/8 that is located only in 0.9125 by the same positions not recommend purchase.
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