USD/CHF Potential Downward Movement

USD/CHF Long-Term Trend: Bearish

Key Resistance Levels: 0.88197, 0.88783, 0.89236

Key Support Levels: 0.87605, 0.87216, 0.86854

Daily Chart:

The price on the higher time frame has reversed after testing a resistance level of 0.90528 and formed a bearish pattern. 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 key level of 0.88783 and has sustained below that. As of now the pair has broken a minor level of 0.88197 before continuing the momentum.

Signal Idea:

Sell Limit Order @ 0.87947

TP @ 0.87680

Stop Loss @ 0.88271

Trade Safely 🙂