USD/CHF’s minor corrective bounce from the March 20 low of 0.9894 to levels above 0.9950 has ended up forming a bear flag on the 4-hour chart.
A bear flag is a continuation pattern which often accelerates the preceding bearish move.
A break below 0.9934 would confirm a flag breakdown and would open the doors for a drop to 0.9750 (target as per the measured move method). Validating the post-breakdown case for a slide to 0.9750 is the 14-day relative strength index (RSI) of 44.50.
4-hour chart
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Trend: Bearish below 0.9934
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