See also
28.07.2022 08:56 PM
The USD/CHF pair was trading at 0.9555 at the time of writing and it seems determined to approach and reach new lows. You knew from my previous analysis that as long as it stays under the downtrend line, the price could resume its downside movement.
Also, I've told you that, dropping below the 0.9606 former low (downside obstacle) activates more declines.
The 0.9573 former low represented a downside obstacle. Breaking below this level signaled strong sellers and a downside movement. The breakdown was seen as a potential selling opportunity. The next major downside target is represented by 0.9505.
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*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
