See also
31.03.2023 06:59 PM
The USD/CHF pair dropped deeper and is now trading at 0.9130. The downtrend line represents an upside obstacle, so as long as it stays below it, the rate could extend its downside movement. Its failure to reach and retest the downtrend line signaled strong sellers and a potential deeper drop.
The 0.9097 lower low stands as a downside target and a potential obstacle. A deeper drop could be invalidated only if the rate jumps and stabilizes above the downtrend line.
Dropping below 0.9097 activates more declines and is seen as a new selling opportunity.
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*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
