The pair could not hold onto major supports at 0.9823, 0.9776 and now at 0.9652 levels, as a result you could see candles with big real bodies.
The current prices have slipped below 7 & 21DMAs, and 21DMA crosses over 7DMA which is sell signal.
Both leading oscillators ( and ) evidences convergence to the prevailing declining trend. Selling momentum is intensified as %D crossover has maintained even below oversold territory.
While, MACD's crossover is substantiating this bear trend, so this trend likely to prolong.
Earlier, it has rejected major resistances at 1.0093 and 1.0032 levels.
But on intraday speculative perspectives, it is good to buy one touch binary puts at every rally that brings in leveraging effect using these instruments with upper strikes for a minimum targets of 30-35 pips.
The payoffs of touch option has been conditional, if USDCHF in this case would touch the OTM strike price within any time period by the time of expiration, if the investor predicts correctly and the asset touches the strike price the option expires "in the money".
This is likely to generate an exponentially high return of between 80-90% to the binary option investor.