USD/CHF edged lower on Tuesday and retreated further from the 0.8915-20 supply zone. Positive technical indicators favour bullish traders and support prospects for further gains. A sustained move beyond trend-channel resistance is needed to confirm the positive bias. The USD/CHF pair witnessed some selling on Tuesday and eroded a part of the previous day’s positive move to the 0.8915-20 supply zone, or one-month tops. The mentioned region coincided with the top boundary of a one-week-old ascending channel and should now act as a key pivotal point for short-term traders. The subsequent slide, however, remained limited and the USD/CHF pair, so far, has managed to hold its neck above the 50-hour SMA/trend-channel confluence support, around the 0.8885-80 region. A convincing break below will suggest that the corrective bounce has run out of the steam and turn the pair vulnerable. Meanwhile, technical indicators on hourly/daily charts have been struggling to gain any meaningful traction but are holding in the positive territory. This makes it prudent to wait for sustained weakness below the trend-channel support before traders start positioning for the resumption of the prior downtrend. The USD/CHF pair might then accelerate the downfall towards the 0.8815-10 intermediate support. Some follow-through selling below the 0.8800 mark will set the stage for a slide back towards challenging multi-year lows, around the 0.8760-55 region. On the flip side, the 0.8915-20 region might continue to act as an immediate strong resistance, which if cleared decisively will be seen as a fresh trigger for bulls. This, in turn, should pave the way for additional gains and has the potential to push the USD/CHF pair further towards reclaiming the key 0.9000 psychological mark. USD/CHF 1-hourly chart Technical levels to watch 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 Germany’s Scholz: Nobody can tell for sure when this pandemic will be over FX Street 1 year USD/CHF edged lower on Tuesday and retreated further from the 0.8915-20 supply zone. Positive technical indicators favour bullish traders and support prospects for further gains. A sustained move beyond trend-channel resistance is needed to confirm the positive bias. The USD/CHF pair witnessed some selling on Tuesday and eroded a part of the previous day's positive move to the 0.8915-20 supply zone, or one-month tops. The mentioned region coincided with the top boundary of a one-week-old ascending channel and should now act as a key pivotal point for short-term traders. The subsequent slide, however, remained limited and the USD/CHF pair, so… 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.