Current trend

The USD continues to decline against the Swiss Franc. Today, the price has reached the lows since February at the level of 0.9211. Investors retain negative attitude to the US economy and prefer to invest into a more reliable Swiss currency.

Except for the speech of the US Fed chairwoman, Mrs. Janet Yellen, no other news can dramatically affect movement direction in the pair USD/CHF today. Tomorrow, market participants will wait for the release of quarterly consumer confidence index of Switzerland and American labor market statistics.

Support and resistance

On the four-hour chart technical indicators show that downtrend will continue. Bollinger bands demonstrate strong divergence confirming existing downtrend. MACD histogram is in the negative zone; its volumes are rapidly increasing, which gives a sell signal.

Resistance levels: 0.9260, 0.9280, 0.9330 and 0.9360.

Support levels: 0.9210, 0.9160 and 0.9100.

Trading tips

If current trend continues, the pair USF/CHF can continue to decline. Sell positions can be opened from the current price level with the nearest target of 0.9210 and the net target at 0.9160.

USD/CHF: review and forecast

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