USDCHF: Break of Consolidation, Trend Continues

USDCHF has turned bearish ever since it fell and broke below a previous low at 1.0130.

The retracement has started and lasted for the whole of last week and finally found itself broken yesterday by a strong bearish full-bodied candle.

It fell a little further to confirm the break before it retraced again and retested the supply zone and the breaking point around 1.0115.

The retest seems successful as of now as the price fell again in the last hour.

Therefore, this could be a good opportunity to sell after the retracement.

Furthermore, the dollar has climbed back above 98 while the U.S. is still in the midst of an intensified trade war with China.

I doubt that the U.S. government will remain silent about the dollar at this point of time.

Leave a Reply