USD/CHF sell-off could be over above 0.8859 [Video]

Olimpiu Tuns Learn 2 Trade

The USD/CHF pair crashed in the short term and now is trading at 0.8886 above today’s low of 0.8871. After its massive drop, the rate could turn to the upside. Technically, a rebound is in cards, but the fundamentals should move the markets today. The ADP Non-Farm Employment Change, ISM Services PMI, and FOMC represent high-impact events, so anything could happen.

As you can see on the H1 chart, the rate dropped below the 0.8895 former low and under the median (ml), reaching a demand zone. The 0.8859 represents a critical downside obstacle. A bullish pattern above this level and coming back above the median line (ml) may announce a rebound.

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Author

Olimpiu Tuns

Learn 2 Trade

Olimpiu is a seasoned Market Analyst / Trader with 11 years of experience in the financial markets having expertise in Forex, Commodities, Index, Cryptocurrencies, and Stocks.

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