(21 NOVEMBER 2017)USD / CHF:Bullish bounce halted.

(21 NOVEMBER 2017)USD / CHF:Bullish bounce halted.

21 November 2017, 12:44
Jiming Huang


Bullish bounce halted.

(By Yann Quelenn)

• USD/CHF declining trendline has halted

progress. The technical structure indicates

further downside risks. The pair has failed to

hold consistently above the parity. If the pair

heads towards 0.98, there might be even more

downside pressures. The road would be wideopen

for further decline.

• In the long-term, the pair is still trading in

range since 2011 despite some turmoil when the

SNB unpegged the CHF. Key support can be

found 0.8986 (30/01/2015 low). The technical

structure favours nonetheless a long term bullish

bias since the unpeg in January 2015.

Share it with friends: