USD/CHF: Breaking down further, broken through next short-term support

Chris Capre 2ndskiesforex

Price Action Context

Since end of May, sellers have been in control in this pair and today they launched another strong attack breaking through a short-term key support.

Trending Analysis

Both short and mid-term bias is bearish and the broken short-term support, which now should act as resistance can offer bears potential trading opportunities on weak pullbacks towards 0.9360-0.9385. The next strong support to look out for comes in around the lows made in the beginning of March.

Closest Support & Resistance Zones

Resistance: 0.9360 – 0.9400
Support: 0.9180 – 0.9250

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Author

Chris Capre

2ndskiesforex

Chris Capre is a professional forex trader and mentor specialized in Price Action trading, and the Ichimoku Cloud.

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