FX.co - USD/CHF analysis for April 24, 2023 - Potential for the further downside movement

2023-04-24T07:39:15

Relevance until2023-04-25

Technical analysis:

USD/CHF analysis for April 24, 2023 - Potential for the further downside movement

USD/CHF has been trading in the downside trend and I see potential for the further downside continuation.

Due to the buying climax on Friday and downside trend in the background, I see potential for the downside continuation towards lower references.

Downside objective is set at the price of 0.8870

MACD oscillator is showing fresh downside cross, which is another good sign for the further downside movement.

Key resistance is set at the price of 0.8950

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

Analytical expert

Petar Jacimovic

FX.co ★ USD/CHF analysis for April 24, 2023 - Potential for the further downside movement