USD/CHF Mid-Day Outlook: Key Resistance Holding, Deeper Decline Expected

Friday, 12 July 2024, 13:07

The USD/CHF currency pair is expected to see a further decline with strong resistance at 0.9000 holding. A potential drop to 0.88825 support is likely, indicating a bearish trend. The current near term channel suggests ongoing downward momentum. A break below 0.8825 could lead to a target of 0.8778, while a break above 0.9000 may signal a reversal towards 0.9049 resistance.

Actionforex — USD/CHF Mid-Day Outlook: Key Resistance Holding, Deeper Decline Expected

USD/CHF Mid-Day Outlook

No change in USD/CHF's outlook as further decline is expected with 0.9000 resistance intact. Deeper decline would be seen to 0.88825 support. Fall from 0.9223 should be in progress with near term channel intact. Break of 0.8825 will target 50% retracement of 0.8332 to 0.9223 at 0.8778 next. However, break of 0.9000 will turn bias back to the upside for 0.9049 resistance instead.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.

USD/CHF Mid-Day Outlook

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