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    Technical analysis for the USDCHF on 22.07.2015

    The USDCHF: the uptrend has turned down for correction

    Direction Period Expected price movement Price movement corridor
    ↓↑ 1 day ≈ 115 pips Max. 0.9650

    Min. 0.9435

    usdchf1

    Having approached resistance at 0.9650, the US dollar turned down for correction against the franc, which allowed bears to break support at 0.9585.

    The next decline target is found at strong 0.9515 support, which has acted as tough resistance for quite a while. The test of the level will be most likely followed by consolidation.

    If the price falls below 0.9515, the next target for the downside correction will be situated at the ascending trend line of 0.9435.

    Alternative scenario: if price breaks and holds above 0.9585 resistance, it’ll trigger another test of 0.9650.

    Dear traders, please post your comments to our forecasts and share your own opinion. Your ideas can be very helpful for the newcomers in the forex market. Thank you!

    The USDCHF: the uptrend has turned down for correction

    Direction Period Expected price movement Price movement corridor
    ↓↑ 1 day ≈ 115 pips Max. 0.9650

    Min. 0.9435

    usdchf1

    Having approached resistance at 0.9650, the US dollar turned down for correction against the franc, which allowed bears to break support at 0.9585.

    The next decline target is found at strong 0.9515 support, which has acted as tough resistance for quite a while. The test of the level will be most likely followed by consolidation.

    If the price falls below 0.9515, the next target for the downside correction will be situated at the ascending trend line of 0.9435.

    Alternative scenario: if price breaks and holds above 0.9585 resistance, it’ll trigger another test of 0.9650.

    Dear traders, please post your comments to our forecasts and share your own opinion. Your ideas can be very helpful for the newcomers in the forex market. Thank you!


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