The
week of central bankers set the USD/CHF pair in strong bearishness. Latest FOMC
rate decision brought sharp move to downwards and yesterday’s SNB elect to keep
rates unchanged pushed the pair even lower. USD/CHF marked a fresh monthly low
at 0.9940 and today is slightly up to currently trade at 0.9970.
Technically speaking the four hour chart is showing bearish signs. The price is developing around the lower Bollinger band and had closed several times beyond it. Both indicators are located within extreme oversold territory, but momentum has lost strength. 0.9950 is giving good support now, but given the fact that the technical readings are pointing lower, the pair is poised to extend the down slide and next bears' target is seen at 0.9910.
Technically speaking the four hour chart is showing bearish signs. The price is developing around the lower Bollinger band and had closed several times beyond it. Both indicators are located within extreme oversold territory, but momentum has lost strength. 0.9950 is giving good support now, but given the fact that the technical readings are pointing lower, the pair is poised to extend the down slide and next bears' target is seen at 0.9910.
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