USD/CHF
The USD/CHF pair did nothing significant on Monday, except for consolidating. In the long term, the market has been caught in a slow and gradual downward movement, and it is a situation in which short-term rallies often lead to further downward movement. The outlook on USD/CHF is bearish for the week, especially when the EUR/USD pair gathers some stamina.
The EMA 11 is below the EMA 56, and the Williams' % Range period 20 is showing some form of neutrality. There is the Bearish Confirmation Pattern in the market. The support levels at 0.9800 (which has been tested previously), 0.9750, and 0.9700 would be reached soon, and that might bring about the strong Bearish Confirmation Pattern in the market.
The material has been provided by InstaForex Company - www.instaforex.com