Technical analysis of USD/CHF 11/17/2023
The USD/CHF currency pair is developing a downward correction at (1D).
The price has broken through the support level 0.8900 (50% Fibo), (MA100) and is currently consolidating below this level as resistance.
The technical picture suggests continued decline. The nearest target is the level of 0.8820 (61.8% Fibo). If this level is broken, it will mean that the correction will transition into a downward trend with the target in the area of the annual minimum of 0.8550.
A signal to cancel the option of developing a decline in the pair will be the growth and consolidation of quotes above the annual maximum of 0.9240.
Created by Joshua Hayn