USD/CHF - Bullish bounce halted
|Bullish bounce halted.
- USD/CHF declining trendline has halted progress. The technical structure indicates further downside risks. The pair has failed to hold consistently above the parity. If the pair heads towards 0.98, there might be even more downside pressures. The road would be wideopen for further decline.
- In the long-term, the pair is still trading in range since 2011 despite some turmoil when the SNB unpegged the CHF. Key support can be found 0.8986 (30/01/2015 low). The technical structure favours nonetheless a long term bullish bias since the unpeg in January 2015.
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