Overview:
- Technical analysis of the USD/CHF pair in the short term.
- The market showed the signs of falling. The trend movement was controversial as it took place in the downward channel. Due to the previous events, the price is still between the levels of 0.8840 and 0.8760. Moreover, the level of 0.8840 is representing a strong resistance on April 10, 2014. From this point, the pair is likely to begin a descending movement from the point of 0.8840 and further to the level of 0.8790. Then the market will probably show the signs of a bearish trend. In other words, sell deals are recommended below 0.8840 or 0.8790 with the first target at the level of 0.8758 (the weekly support 1). However, if the USD/CHF pair fails to pass through the level of the weekly support 1 (0.8758), the market will indicate a bullish opportunity above minor support level of 0.8758 today. In this regard, buy deals are recommended higher than the 0.8758 level with the first target at 0.8800. It is possible that the pair will turn upwards continuing the development of the bullish trend to the level of 0.8830.
