Technical analysis of USD/CHF 07/11/2019

The USD/CHF currency pair has broken through the upper limit of the downward channel on the 4H timeframe, finding resistance at 0.9950 from which the downward movement has resumed.
At the moment, the pair is at the support level in the zone 0.9950. If the pair manages to consolidate below this level on the 1Daily timeframe, this will give grounds to assume a further decline to the zone level of 0.9700. If the pair fails to break through support in the 0.9950 zone, then there is reason to assume that the pair will rise to the level of 1.0000 (overlay of MA100 and MA200). In favor of the growth of the pair from the current level stands a slight convergence on the RSI indicator.

USDCHF_STPDaily

Created by Joshua Hayn

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