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28.07.202220:56 Forex Analysis & Reviews: USD/CHF extends its downside movement

Exchange Rates 28.07.2022 analysis

USD/CHF Strong Sellers!

The USD/CHF pair was trading at 0.9555 at the time of writing and it seems determined to approach and reach new lows. You knew from my previous analysis that as long as it stays under the downtrend line, the price could resume its downside movement.

Also, I've told you that, dropping below the 0.9606 former low (downside obstacle) activates more declines.

USD/CHF Trading Conclusion!

The 0.9573 former low represented a downside obstacle. Breaking below this level signaled strong sellers and a downside movement. The breakdown was seen as a potential selling opportunity. The next major downside target is represented by 0.9505.

*这里的市场分析是为了增加您对市场的了解,而不是给出交易的指示。

Ralph Shedler,
Analytical expert of InstaSpot
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