USD/CHF 4H Chart: Channel Down

Source: Dukascopy Bank SA

Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Sell Sell
RSI (14) Buy Neutral Neutral
Stochastic (5; 3) Sell Sell Sell
Alligator (13; 8; 5) Sell Sell Sell
SAR (0.02; 0.2) Sell Sell Buy
Aggregate
Due to recent fundamental events the US Dollar has plummeted down to the lower trend line of a channel down pattern against the Swiss Franc. Moreover, it has fallen once more below the 2016 low level. 

As the move occurred due to fundamental events, market participants should still look out of a breaking of the channel down pattern. However, if a rebound occurs, it is most likely still going to be a descending one, as the rate would face the resistance of the 2016 low level and the weekly S2 at the 0.9460 mark. In that case the pair would fall as low as the 0.9368 level, where the third weekly support is located at.

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