FX.co ★ Cookiess | USD/CHF

USDCHF Weekly Chart Analysis: We are discussing the current real-time assessment of the USD/CHF currency pair's price. Despite the closure, the pair is declining in the H4 time frame, and this trend is probably going to continue at the opening. Selling at a breakdown of 0.82515 and below on the retest of 0.82355 would be wise if it were a working week. The present reversal suggests a clear direction, but only time will tell whether the retest is successful. Consequently, it is still wise to take into account the pair's ongoing negative trend. After reaching the local resistance level at 0.83207 on the USD/CHF weekly chart, the price turned and reluctantly headed down, creating an uncertainty candle with a small bearish bias before settling below the support level at 0.82632. The negative trend may continue next week given the current circumstances. I want to keep a careful eye on the support level at 0.82328. In the vicinity of this support level, two situations may arise. In the first case, the candle turns and the upward movement resumes. I will wait for the price to rebound to the resistance levels of 0.83207 or 0.83700 if this happens. Further positive action is anticipated if the price stays above these levels, hitting resistance levels around 0.84768 or 0.85440. To decide on the next trade direction, I will search for trading setups close to these resistance levels. I recognize that the price may go further in a positive direction, but this will rely on the news context and how the market responds to the optimistic targets. An other possibility is that the price settles below the 0.82328 support level and keeps moving south. I'll wait for the price to approach the support levels of 0.81464 or 0.80622 if this happens.