At the time of writing, the currency pair was moving somehow sideways between 0.9213 and 0.9177 levels. In the short term, it could extend its range movement before deciding a clear direction. As long as it stays above the uptrend line and above 0.9177, that are seen as downside obstacles, the USD/CHF could still develop a new swing higher.
Actually, staying above the downside obstacles and jumping above the former high of 0.9213 which stands as a static resistance, an upside obstacle, signals a potential strong upwards movement.
A drop below 0.9177 and under the uptrend line could signal a deeper drop and could bring new selling opportunities. On the other hand, staying above the uptrend line and jumping above 0.9213 could bring new buying opportunities as USD/CHF may develop an upside movement.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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