TipTVFinance

USDCHF - More weakness below Thursday's low

FX:USDCHF   U.S. Dollar / Swiss Franc
Pair's ren-entry into the falling channel earlier this month followed by a failed attempt to take out channel resistance last week and rejection at daily 5-MA and 10-MA levels today indicates the currency pair could drop below thursday's low of 0.9588, thus opening up crucial support levels at 0.9500 and 0.9444 (May 3 low).

On the higher side, falling channel resistance needs to breached on day end closing basis in order to signal bearish invalidation.

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