During the first trading session of the new week, the US dollar appreciates around 0.5% against the Swiss franc. Nevertheless, when looking at the chart of the USDCHF currency pair, we can see that the local downward trend continues. As for the H4 interval, the zone at 0.9665 remains the key resistance. According to the classic assumptions of technical analysis, until the price sits below, continuation of the downward move looks probable. Only breaking above the area of 0.9740 may lead to a shift in the sentiment.
USDCHF, H4 interval. Source: xStation5
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Open account Try demo Download mobile app Download mobile appLooking at the lower time frame - M15, the aforementioned zone at 0.9665 is additionally strengthened by the upper limit of the 1: 1 structure and the downward trend line. So it seems that a rebound at this point may lead to the generation of another downward impulse towards 0.9600. Otherwise, breaking the aforementioned resistance may herald a bigger upward move.
USDCHF, M15 interval. Source: xStation5
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