FX.co ★ blaise.rogahn | USD/CHF

Buyers are not ready to push the price of USDCHF up. Yesterday there was an attempt to start an uptrend, but even 0.7830 could not be overcome. Currently, we see that sellers managed to return below 0.7815, indicating they have a chance to continue the decline towards 0.7795 and 0.7780. The further fate of USDCHF will depend on how it behaves around 0.7780. Consolidation below 0.7780 could lead to a drop to 0.7750, 0.7720, and 0.7690. If even the level of 0.7690 does not stop the sellers, then the downward movement may continue towards 0.7660 and 0.7630, and further assessment will be needed. The world is very unstable, and the US dollar can change direction at any moment. If buyers manage to take the initiative around 0.7780, then upon a rebound, we can expect an increase to 0.7795, 0.7815, and 0.7830-0.7845. To continue the uptrend, it is necessary to establish above 0.7845, which will require news that strengthens the US dollar. After securing above 0.7845, the upward movement can proceed towards 0.7875, 0.7905, and 0.7935. If buyers do not stop at 0.7935, then they will have a chance to continue the rise to 0.7965, 0.7995, and 0.8025.