USD/CHF: Downtrend Continues With Further Decline Likely

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

• Downtrend in Place:
  • The pair remains in a downtrend from 0.9050 as long as the price stays below the falling trend line.
• Further Decline Possible:
  • The next target is around 0.8490, with a potential move down to the previous low support at 0.8432.

Key Levels to Watch

• Resistance:
  • 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.

Conclusion

USD/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.

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