Technical analysis of USD/CHF
From a technical point of view the currency pair of USD/CHF has a descending trend in 4h time frame. Therefore, we cannot expect an ascending trend of the price in the current situation. Moreover, the price is stuck in a descending channel which again shows another fall in the price. The average of last 21 days’ activities, also, approves this descending trend. But, on the 1 day time frame the situation is different and a warning is issued about a rising in the price. In fact, the factor which is preventing more descent of the price from the supportive level of 90.501 is the ascending trend line (consists of 2 supportive points). Right now, the sellers are trying to defend this supportive level.
The most important resistance and supportive lines of today:
Written by the technical team of FxGlory Brokergae.