USD/CHF has failed to break above the falling trend line on the 4-hour chart, leading to a sharp drop from 0.8748, extending as low as 0.8520.
Current Trend
- The pair remains in a downtrend from 0.9050 as long as the price stays below the falling trend line.
- The next target is around 0.8490, with a potential move down to the previous low support at 0.8432.
Key Levels to Watch
- Initial resistance is at 0.8600.
- A break above this level could lead to a retest of the falling trend line on the 4-hour chart.
ConclusionUSD/CHF continues to trend downward, with further declines likely if the price remains below the falling trend line. Traders should watch for a potential drop to 0.8490 and 0.8432, while resistance at 0.8600 could signal a possible retest of the trend line.More By This Author:EUR/USD Continues Its Climb: Key Levels To Watch EUR/USD Analysis: Breaking Resistance And Key Levels Ahead USD/JPY Analysis: Sideways Movement And Key Levels To Watch
