USD/CHF increased a little in the short term but it continues to stay below the downtrend line signaling that it could drop anytime. It could test and retest the downtrend line before deciding its direction.
Staying below the downtrend line and dropping below 0.9129 former low could announce that it may drop further in the short term. On the other hand, jumping and stabilizing above the downtrend line could signal that the decrease is over and that USD/CHF could start increasing.
Trading Conclusion!
Sell USD/CHF if it drops below 0.9129 and if it reaches 0.9115 level. The next major downside target is seen at the 0.9000 psychological level.
The material has been provided by InstaForex Company - www.instaforex.com