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AidanMDang
Nov 25, 2018 6:50 AM

USDCHF Trend Continuation: Recently Broke Support, Now Retesting Short

USD/CHFOANDA

Description

USD/CHF Recently broke its upward momentum and has begun a downtrend.

We are currently testing resistance.

If USD/CHF fails to break this resistance level , we can expect further downward movement.

Side Note: We see that the blue resistance has been broken, this may be an indication of bullish momentum, although I see it as a small structure break before a bounce downward off of the strong structure resistance .

-RSI was diverging before recent downtrend... Currently not in oversold state.
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