USDCHF Technical Analysis: The USD/CHF pair opened this week in a bearish trend, with signs of weakness in the trend strength. The pair recorded a high of 0.89842 and a low of 0.89521 so far, and is currently trading at 0.89686.
USDCHF Technical Analysis: Technical Analysis
Current price action indicates that the pair is trading below the moving averages, which reinforces the possibility of the downside trend continuing for the time being. The MACD indicator is also reflecting a negative divergence, but with some weakness in the downside momentum, which opens the door to a possible correction or reversal in the short-term trend.
Future Outlook:
If the pair continues to trade below the moving averages, the downside trend may continue towards key support levels. However, any additional signs of weakness in the downside movement may indicate a possible rebound or upward correction in the near future.
Trading strategies based on Buy/Sell levels
| USDCHF | In case of buying | in case of selling |
| Entry point | 0.89919 | 0.89565 |
| Target Point 1 (TP1) | First resistance: 0.90073 | First support: 0.89367 |
| Target Point 2 (TP2) | Second resistance: 0.90132 | Second support: 0.89211 |
| Stop Loss (SL) | 0.89565 | 0.89919 |
The overall trend of the pair remains bearish, but it is necessary to closely monitor price action for signs of a weakening trend or an opportunity for a change in momentum in the future.
