USD/CHF Weekly Outlook: Analyzing the Continuing Downtrend
Saturday, 3 August 2024, 12:14
USD/CHF Weekly Forecast
The USD/CHF currency pair fell sharply from 0.9223
Current Trend Analysis
As we move into this week, the initial bias remains on the downside, indicating that we may see a deeper decline retesting the lower limit of 0.8332.
Resistance Levels
- Minor resistance at 0.8662 may bring intraday consolidations.
- However, the bearish outlook will persist as long as 0.8825 acts as resistance.
Conclusion
In summary, the USD/CHF pair faces ongoing challenges with a likely trajectory pointing downward. Traders should monitor resistance levels closely while being prepared for potential further declines.
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.