USD/CHF remains in a bearish trend, with recent price action confirming a break below the previous consolidation zone, reinforcing downside momentum.
Key Resistance Level: 0.8650 – former support now acting as resistance
Downside Targets:
0.8500 – near-term support
0.8435 and 0.8400 – medium to long-term bearish targets
An oversold bounce toward 0.8650 could offer a fresh opportunity for sellers if the price fails to reclaim that level. A bearish rejection there would support continuation to the listed support levels.
However, a confirmed breakout and daily close above 0.8650 would invalidate the bearish bias, shifting sentiment and opening the door for a move toward 0.8710, followed by 0.8760.
Conclusion
USD/CHF remains bearish below 0.8650. Watch for a rejection at this level to confirm further downside. A daily close above 0.8650 would turn the outlook bullish, targeting 0.8710 and higher.
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
Key Resistance Level: 0.8650 – former support now acting as resistance
Downside Targets:
0.8500 – near-term support
0.8435 and 0.8400 – medium to long-term bearish targets
An oversold bounce toward 0.8650 could offer a fresh opportunity for sellers if the price fails to reclaim that level. A bearish rejection there would support continuation to the listed support levels.
However, a confirmed breakout and daily close above 0.8650 would invalidate the bearish bias, shifting sentiment and opening the door for a move toward 0.8710, followed by 0.8760.
Conclusion
USD/CHF remains bearish below 0.8650. Watch for a rejection at this level to confirm further downside. A daily close above 0.8650 would turn the outlook bullish, targeting 0.8710 and higher.
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.