The USD/CHF pair trimmed a part of its early strong gains and has now retreated over 20-pips from daily tops, albeit has still managed to hold comfortably above the 0.9800 round figure mark. The mentioned handle is closely followed by a support near the 0.9780-75 region, marking the lower end of an ascending channel, extending from multi-month lows touched on August 13th. With technical indicators holding in the bearish territory and losing positive momentum on the daily chart, break through the channel support should pave the way for a further corrective slide. Below the mentioned support, the pair seems all set to extend this week’s retracement slide from one-month tops and aim back towards challenging the 0.9710-0.9700 intermediate support. The downfall could further get extended towards multi-month lows support – around the 0.9660 region – touched on August 13 – amid the prevailing selling bias around the US Dollar. On the flip side, immediate resistance is now pegged near the 0.9850-60 region, above which bulls are likely to aim towards reclaiming the 0.9900 handle en-route the channel resistance. USD/CHF 4-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 Breaking: GBP/USD storms toward 1.2350 as Jo Johnson quits FX Street 4 years The USD/CHF pair trimmed a part of its early strong gains and has now retreated over 20-pips from daily tops, albeit has still managed to hold comfortably above the 0.9800 round figure mark. The mentioned handle is closely followed by a support near the 0.9780-75 region, marking the lower end of an ascending channel, extending from multi-month lows touched on August 13th. With technical indicators holding in the bearish territory and losing positive momentum on the daily chart, break through the channel support should pave the way for a further corrective slide. Below the mentioned support, the… 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.
