USD/CHF technical analysis: After one rejection is a second too much?
|- USD/CHF moved lower as the risk enviroment shifts.
- Today the pair is trading 0.33% lower and is testing technical support.
USD/CHF 4-Hour Chart
Last week the pair broke out of the trendline to move higher after a strong bout of positive risk sentiment.
Now the major pair has moved back inside the trenline but we have to wait for the 4-hour candle to close for confirmation.
Some analysts were looking to see if the 1.000 level would be challenged but it was a step too far this time out.
If we do indeed see a rejection the psychological (1.000) area is an obvious target.
On the daily timeframe, it seems we are still in a consolidation sideways trend. Only a break of either 1.0027 or 0.9841 can change this.
-637090777754096395.png){kind=link}
Additional Levels
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.