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Soon after hitting 0.9753 USD/CHF experienced a precipitous three-and-a-half figure drop. The currency couple was unable to recover after such a decline and continued to descend, although at a substantially slower pace. This marked the beginning of a channel down the price is presently fluctuating within. The upper trend-line is at 0.9440, while the lower one is at 0.9316.
According to the technicals, there is going to be even more directionless movement that we saw yesterday, but there are 72% of SWFX traders who reckon that USD/CHF has already bottomed out and is thus ready to commence a recovery.
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