Technical analysis of USD/CHF 09/13/2022
The USD/CHF currency pair on the (4H) chart broke through the key support at 0.9560 (61.8 Fibo), as well as (MA100) and (MA200). The price found support at the level of 0.9480, after which it corrected to the area of 0.9620 (MA200) and is currently consolidating around 0.9600.
The technical picture shows the transition of the correction into a downtrend with the nearest target at the low of 0.9370. In favor of the continuation of the downtrend is the divergence on the RSI indicator.
Cancellation of the development of the downtrend will be the growth of quotations above the maximum of 0.9870, which will indicate the continuation of the uptrend.
Created by Joshua Hayn