FX

USD/CHF Price Analysis: Bears on top despite bullish probe of resistance

  • USD/CHF bears about to jump in as price tests resistance.
  • Bears looking for downside extension from daily resistance. 

USD/CHF is testing the bear’s commitments in Asia with prospects of a downside continuation of failures by the bulls to break the grip of the bears. 

The chart is showing a dominant downtrend, so the tred is your friend in this scenario as illustrated on the following charts. 

Daily chart

4-hour chart

From a 4-hour perspective, the price is testing the old support which would be expected to now act as resistance and lead to follow-through and an onward continuation. 

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