The USD/CHF pair stalled its strong positive move and witnessed a dramatic intraday turnaround from three-week tops in reaction to China’s retaliatory tariffs on $75 billion worth of US goods. The sharp intraday pullback has now dragged the pair farther below a support marked by the lower end of weekly ascending trend-channel and already seems to have confirmed a bearish breakdown. Meanwhile, technical indicators on the 1-hourly chart quickly drifted into the bearish territory and have been losing positive momentum on 4-hourly/daily charts, further adding credence to the negative outlook and setting the stage for an extension of the corrective slide. A follow-through weakness below the 0.9800 handle will reinforce the bearish set-up and turn the pair vulnerable to accelerate the slide further towards 0.9775 horizontal zone en-route weekly lows – around the 0.9760 region – and ahead of the 0.9730 support area. On the flip side, the ascending trend-channel support breakpoint – around mid-0.9800s – now becomes immediate resistance, above which a bout of short-covering might assist the pair to aim back towards the trend-channel resistance – currently near the 0.9880-85 region. USD/CHF 1-hourly chart 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 Forex Weekly Outlook August 26-30 Yohay Elam 4 years The USD/CHF pair stalled its strong positive move and witnessed a dramatic intraday turnaround from three-week tops in reaction to China's retaliatory tariffs on $75 billion worth of US goods. The sharp intraday pullback has now dragged the pair farther below a support marked by the lower end of weekly ascending trend-channel and already seems to have confirmed a bearish breakdown. Meanwhile, technical indicators on the 1-hourly chart quickly drifted into the bearish territory and have been losing positive momentum on 4-hourly/daily charts, further adding credence to the negative outlook and setting the stage for an extension of the corrective… 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.
