Daily analysis of USD/CHF for June 7, 2018

USD/CHF

There remains a downside bias on the USD/CHF pair and price is going southwards gradually. It is now below the resistance level at 0.9900, and it may reach the support levels at 0.9850 and 0.9800. Since the trend has been going on for some weeks in a row, it is supposed to continue for the next several trading days.

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The condition in the market has changed very little, and that is something that will not last long. There is a Bearish Confirmation Pattern in the 4-hour chart and the Williams' % Range period 20 is not far from the oversold region.

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