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.
Additional Levels
Author

Rajan Dhall, MSTA
FX Daily
Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.
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