USDCHF H8 | Market View

- The USDCHF downtrend momentum accelerated to 0.9056 last week. For this week we considering mild bullish convergence condition on H4 MACD.
- A break of 0.9151 minor resistance will suggest short term bottoming. Intraday bias will be turned back to the upside for rebound to 4 hour 55 EMA (now at 0.9208) and above. But upside should be limited below 0.9376 support turned resistance. On the downside, break of 0.9056 will extend the downtrend to 161.8% projection at 0.8885.