FX.co ★ blaise.rogahn | USD/CHF

In the USDCHF currency pair, there is still a possibility of an upward movement, but a significant pullback downwards is increasingly likely. I believe that upon a retest of 0.9150+/-, a decline to 0.9100-0.9085 may follow - at least initially. If this range is successfully breached, then a decline towards 0.9000 will become relevant. Over the weekend, it is possible to look a bit further ahead. For instance, on the daily timeframe, a bullish sentiment persists, and a rise to 0.9220-0.9240 seems quite achievable. Shorting USDCHF from this level looks very appealing, in which case one could aim for a profit of 200+ points during the decline to 0.9000. At the moment, a rise above 0.9240 seems unlikely, but it cannot be completely ruled out. If USDCHF buyers manage to firmly establish themselves above this level, then the next target for the bulls could be 0.9400-0.9450.