Chart of the Day: USD/CHF

Charft of the Day: Spot USD/CHF (11/06/2020) | 

The USDCHF is currently showing signs of weakness across multiple timeframes trading below key moving averages. Having taken out yesterday’s low at 0.94248, there are other indications supporting this bearish bias. On the daily timeframe, price is trading below the wedge formation created on the 14.04.2020, tested on the 01.05.2020, the 04.06.2020 and 05.06.2020 and currently had two day closes below the wedge indicating bearishness in this pair. The projection of the range of the wedge from the breakout point is around the 0.9350 level and potentially much lower towards 0.9260.


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