USD/CHF Potential Downward Movement

USD/CHF Long-Term Trend: Bearish

Key Resistance Levels: 0.85445, 0.86009, 0.86658

Key Support Levels: 0.84695, 0.84325, 0.83598

Daily Chart:

The price on the higher time frame has been in a downtrend recently after it faced resistance at the 0.90837 level and reversed. The pair has continued to break a few support levels which suggests further trend continuation. 

USD/CHF Medium-Term Trend: Bearish

1-Hour Chart:

On the lower time frame, the pair is moving in the major trend’s direction. It broke a few support levels and as of now the pair has broken a level of 0.85445 and formed an aggressive supply zone before continuing the move.

Signal Idea:

Sell Stop Order @ 0.85144

TP @ 0.84729

Stop Loss @ 0.85559

Trade Safely 🙂