FX.co ★ USD/CHF

The US dollar has indeed weakened significantly in recent times, including against the Swiss franc in the USDCHF pair. I believe this could present a favorable opportunity to buy at more attractive prices. Despite the current depreciation of the US dollar, I am confident that a strong recovery is not far off. Therefore, I am approaching my buying strategy with caution at these levels. Ideally, I would like to see the USDCHF pair rise to 0.9200, but for now, I have set a more conservative take profit target at 0.9030. I chose this level because it is slightly below 0.9050, which is the first key resistance level I expect the pair to test I anticipate that buyers will face an initial challenge at the 0.8925+/- level. I think overcoming this level will be crucial for confirming the likelihood of further upward movement. If buyers manage to break through this zone, I believe it will strengthen the case for continued growth toward my take profit target. However, I am also aware that the current downtrend could persist. I cannot rule out the possibility that USDCHF sellers might push the pair lower. If the pair consolidates below 0.8830, I see a potential for further decline toward the 0.8730 level. In such a scenario, I plan to add to my position at this lower level, as I consider it a strong support zone

I am closely monitoring market reactions to news and economic developments, as these factors could significantly influence the pair’s direction. I understand that adjustments to my trading plan may be necessary based on how the market responds to new information. For now, I am prepared to adapt my strategy as the situation evolves. I remain cautiously optimistic about the US dollar’s potential to strengthen, but I am also mindful of the risks involved. I will continue to evaluate price action and key levels to make informed decisIn summary, I am focusing on the 0.8925+/- level as a critical hurdle for buyers, while keeping an eye on the 0.8830 and 0.8730 levels as potential areas of interest if the downtrend continues. I believe this balanced approach will allow me to navigate the current market conditions effectively.