The USD/CHF pair has been trending downwards since Monday, the 29th of February 2016, with the sellers leading the price from as high as 1.0038 to as low as 0.9904.
Today, the currency pair dropped from 0.9982 down to 0.9904. In the event that the bulls manage to overweigh sellers in trading volume and push the price above 0.9955, profit targets could be set at 0.9971 and 0.9987 respectively.
On the flip side, in the scenario where the sellers keep pressing the pair price below 0.9895, the price could find support at 0.9851.
Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view.