USD/CHF 4H Chart: Descending Triangle

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
After coming off its six-month high on May 22, USD/CHF started an accelerated fall towards the pattern's support at 0.9156. USD/CHF bounced off this level and reversed its direction, reaching the pattern's upper-limit that blocked further upside and sent the pair below its 200-bar SMA. Currently, USD/CHF is struggling near its 100-bar SMA at 0.9626. If the pair jumps above this significant level, it will face the resistance at 0.9276. However, in case of any downward pressure, the USD/CHF is likely to fall to 0.9211 (daily S1) and, if overcome, to 0.9186 (daily S2). If both support zones fail to curtail the downswing, the pair may target the last level (0.9154) capable of mollifying a sharp decline.
© Dukascopy Bank SA
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