USDCHF held down by descending channel!
USDCHF is being held in a descending channel where if it breaks its 1st support at 0.9831 (horizontal swing low, it could potentially fall to its next support at 0.9724 (38.2% Fibonacci retracement).
RSI (89) is in the same descending channel and Ichimoku cloud is also showing signs of bearish pressure which contributes to our bearish bias.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
RSI (89) is in the same descending channel and Ichimoku cloud is also showing signs of bearish pressure which contributes to our bearish bias.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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