USD/CHF declines after testing high level zone

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Source: Dukascopy Bank SA


The breaking of the triangle pattern resulted in a sharp surge. The surge eventually hit the early 2021 high level zone at 0.9460/0.9475. The zone's resistance held and the pair started a decline. By April 4, the US Dollar's decline against the Swiss Franc had touched and found support in the 0.9200 level.

If the pair continues to decline, it would have to first pass below the support of the 0.9200 mark. Further below, take into account that the 0.9150 level has acted as support in late February. Even more below, take into account the support zone at 0.9090/0.9100.

However, a potential surge of the currency pair might encounter resistance at 0.9290/0.9300, before reaching the resistance zone near 0.9350 and the 2021 and 2022 high levels at 0.9460/0.9475.
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