Daily analysis of USD/CHF for May 31, 2018

USD/CHF

This market has been going gradually downwards (a movement that was started early last week). Price is now below the resistance level at 0.9900 and it may reach the support levels at 0.9850, and another support level at 0.9800, which would most probably favor bears. However, a strong selling pressure is needed for the support level at 0.9800 to be reached.

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A continuation of the bearish movement is expected today or tomorrow. There is a Bearish Confirmation Pattern in the market, and the bias is bearish. The Williams' % Range period 20 is almost into the oversold region.

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