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

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