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Daily chart: Today the USD/CHF pair already surpassed the barrier of 0.9094 where there is the line 5/8 (green line). We believed that the same was an important resistance due to the fact that this is the top line of your range of trend and from which the upward trend in the medium and long term will be confirmed. Although at the time of this analysis the price seems to find a resistance at 0.9115, it looks like it will be overcome in the next few hours.
4-hour chart: On 4-hour chart we saw a similar picture with the USD/CHF pair moving above 0.9094 and taking its resistance closest to the 6/8 line (red line) which is an important area of resistance.
If we look at the bottom window of our chart, we notice that both the oscillator strength as well as the oscillator of trend are extreme in their areas and there is a high probability of a setback of at least 50% of all the tour so far since the Monday opening.
1-hour chart: The 1-hour chart already shows us a slight setback from 6/8 line (red line) and also we can see that the price is on the edge of the second bottom line of its trend channel on which it has been moved during the last 72 hours since the opening of this week. As we see the upward movement is becoming less pronounced and there seems to be a remarkable exhaustion on the part of buyers, which would give way to the bears take control at least for a short period.
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Email:antonio.inga@analytics.instaforex.com DISCLAIMER
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