- USD/CHF moved lower as the risk enviroment shifts.
- Today the pair is trading 0.33% lower and is testing technical support.
USD/CHF 4-Hour Chart
Last week the pair broke out of the trendline to move higher after a strong bout of positive risk sentiment.
Now the major pair has moved back inside the trenline but we have to wait for the 4-hour candle to close for confirmation.
Some analysts were looking to see if the 1.000 level would be challenged but it was a step too far this time out.
If we do indeed see a rejection the psychological (1.000) area is an obvious target.
On the daily timeframe, it seems we are still in a consolidation sideways trend. Only a break of either 1.0027 or 0.9841 can change this.
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Additional Levels
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