Permanecer 
Condições de Negociações
Ferramentas
USD/CHF has found temporary support and now is fighting hard to recover after the impressive sell-off, but the sellers are still very strong and they could send the price down anytime again.
The pair is trading at 0.9305 level, below 0.9373 today's high. The bias remains bearish as long as USD/CHF stays below the near-term resistance level. The price has opened the week with a gap down, it has come back to close it, but it has failed to stay higher as the selling pressure is high.
USD/CHF has reached another low yesterday at 0.9181, below the 0.9186 static support, but it has closed the session at 0.9261 level, right above the S1 (0.9238) level. It has increased today, but it continues to stay below the inside sliding line (SL) of the orange descending pitchfork.
The pair is under massive selling pressure as long as it is trading below this broken dynamic support (SL - descending dotted line). The major downside target remains at the lower median line (LML) of the descending pitchfork, it could still reach this obstacle if stays below the sliding line (SL).
A significant rebound could develop if USD/CHF consolidates above S1 (0.9238) and if it closes above the sliding parallel line (SL).
USD/CHF is under bearish pressure, despite today's rebound, it could drop anytime again as long as it stays below the sliding line (SL). A failure to reach the lower median line (LML) could announce a larger upside movement, also if it stays above the 0.9186 static support.
Personally, I believe that USD/CHF will come back to pressure the S1 (0.9238) level and the 0.9186 static support, only a false breakdown with a great separation or a reversal pattern could signal that the downside movement is finished. USD/CHF will drop towards fresh new lows if it closes and stabilizes below the S1 (0.9238) and below the 0.9186 level.
A rebound is somehow expected after the massive drop, but we have to wait for confirmation because the Swiss Franc remains very attractive in the current risk aversion situation.
InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.
