FX.co ★ Daily analysis of USD/CHF for March 5, 2018

USD/CHF

This currency trading instrument is bearish in the long-term, neutral in the short-term, and it is quite choppy at the present. The bearishness in the market has been in place since early November 2017; plus last week was rough. The price rose from the support level at 0.9350, went above the resistance level at 0.9450, only to drop towards the support level at 0.9350 again.

There is a Bearish Confirmation Pattern in the market. A breach of the support levels at 0.9350, 0.9300 and finally, 0.9250, would bring about a bearish outlook on the market. A movement to the upside would save the extant bullish bias.