FX.co ★ blaise.rogahn | USD/CHF

The US dollar continues to decline today on news of a delay in US strikes on Iran, a decision made by Donald Trump after a conversation with the Pakistani defense minister acting as a mediator between the warring parties. Against the Swiss franc, the price of the US dollar has already dropped to the support at 0.7890, refreshing the previous low of the H4 pair as indicated by the "Zigzag" indicator. Although technical analysis may not be very effective in this case, we still need to rely on something. Therefore, I believe that the established support will prevent the pair from further decline, especially considering that the Stochastic is deep in the oversold area and the uncertainty in agreements along with Trump's frequently changing positions may push the USD/CHF pair back up towards the resistance area at 0.7970. In the best-case scenario for bears, I expect the pair to break through to the area of March lows around the middle of the 78th figure, marked by the pink marker, but this scenario is less likely.