USD/CHF slips past-61.8% Fibonacci retracement of the early-Monday rise. A short-term falling trend channel keeps the sellers hopeful. Buyers aim for 0.9485 on defying the bullish formation. USD/CHF remains on the back foot around 0.9440, down 0.10 on a day, during the pre-European session on Wednesday. In doing so, the quote declines below 61.8% Fibonacci retracement of June 11-12 upside while also staying inside a two-day-old descending channel formation. Considering the pair’s break of the key Fibonacci retracement, as well as channel pattern, the bears seem firming up their grips to refresh the weekly low under 0.9420. However, downward sloping RSI and support line of the said channel might restrict the pair’s further declines around 0.9400. Meanwhile, buyers are less likely to enter unless the quote defies the channel by surging past-0.9455. Following that, last Wednesday’s low near 0.9485 might be their immediate favorite. During the quote’s further upside beyond 0.9485, 0.9500 and Friday top near 0.9530 could lure the optimists. USD/CHF hourly chart Trend: Bearish FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Natural Gas Futures: Further downside on the cards FX Street 2 years USD/CHF slips past-61.8% Fibonacci retracement of the early-Monday rise. A short-term falling trend channel keeps the sellers hopeful. Buyers aim for 0.9485 on defying the bullish formation. USD/CHF remains on the back foot around 0.9440, down 0.10 on a day, during the pre-European session on Wednesday. In doing so, the quote declines below 61.8% Fibonacci retracement of June 11-12 upside while also staying inside a two-day-old descending channel formation. Considering the pair’s break of the key Fibonacci retracement, as well as channel pattern, the bears seem firming up their grips to refresh the weekly low under 0.9420. However, downward sloping… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
