Daily chart
Prior to downtrend the 0.9277 area was an important support for the USD/CHF pair, which could not be overcome easily. At this time the pair is traded at 0.9266 with a bias towards low and marked according to the theory of Murrey lines, the suggestion is to buy and sell when the price crossover is observed.
Taking into account this fact we believe there is a high probability that the pair breaks the trend line and moving less to support 2 located at 0.9198.
4-Hour chart
In the 4-hour chart the USD/CHF pair is below the line 0/8 (solid line) considered a final support line. Since 0.9277 becomes a major resistance area it is very likely that the pair is looking for a new support around 0.9216, where the line 2/8 is located, but an income above 0.9277 price could eventually take it to 0.9308 and then continue its downtrend.
1-Hour chart
If you have any questions or suggestions, please contact:
Email: antonio.inga@analytics.instaforex.com
DISCLAIMER No information published constitutes a solicitation, offer, or recommendation, to buy or sell any investment instrument, to effect any transactions, or to conclude any legal act, whatever its nature. The information published and opinions expressed are provided on an only for information only and is subject to change without notice, delimiting the company responsibility for decisions originating from the same, and they cause any kind of profit, loss or damage.