FX.co ★ blaise.rogahn | USD/CHF

In my brief forecast for Monday for this trading instrument USDCHF, I expect a further decline of the currency pair to the next resistance level. Most indicators on the hourly timeframe point to a decline of the currency pair to the next resistance level. The overall trend on the 1-hour chart remains bearish. On the 1-hour chart we can see that the USDCHF currency pair is near the price resistance level of 0.80620. On Monday I expect a breakout of this resistance level 0.80620 and a further decline of the currency pair to the next resistance level 0.80338. If this USDCHF currency pair is able to break through this resistance level 0.80338 and consolidate below it, then I will expect a further decline of the currency pair to the next resistance level. But if this USDCHF currency pair is not able to break through this resistance level 0.80338 and consolidate below it, then I will expect a pullback of the currency pair to the support level 0.80879.