Technical analysis of USD/CHF for May 24, 2018

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As we can see on the 4 hour chart, USD/CHF is now moving in a bearish bias. This condition has already been shown by the price which is moving in a down slope channel with the moving average above the price. For now, after USD/CHF has already touched the upper channel, it will likely go to test the previous support level at 0.9893. Unless the pair breaksout and closes above 0.9977, it will continue going down.

The material has been provided by InstaForex Company - www.instaforex.com