USDCHF so far has respected the key support trend line coming from 0.9015 to 0.9240. Yesterday price broke below the trend line and has provided us with a bearish signal after some time. Price is expected to continue lower at least for the near term.
Red line - support trend line
USDCHF has broken below the key support area of 0.9250 where we find both the upward sloping red trend line and the horizontal support. Price is now expected to continue lower with 0.92 as first target, because there we find the closest short-term support. Next downside target is at 0.9150. Below 0.9150 we see 0.9050. Resistance is at 0.9310-0.9315 area and bulls need to recapture this level in order to regain control of the trend.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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