Technical analysis of USD/CHF 05/20/2022
The USD/CHF currency pair, within the framework of a long uptrend, found resistance at the level of 1.0064 from which it began a downward correction. At the moment the price is consolidating around 0.9700.
Due to the fact that the price broke through the support at 0.9735 (38.2% Fibo), the technical picture suggests a continuation of the correction with the nearest target in the area of 0.9635 (50% Fibo), (MA200) on the (4H) chart.
Сanceled for the development of a downward correction will be the growth of the pair above the high of 1.0064.
Created by Joshua Hayn