The USDCHF pair has been ranging on the daily time frame for write some time now.
Last week, we saw the bears flexing their muscle and successfully breaking the range Support to the downside.
Looking at the monthly, weekly and daily timeframe we can see that the market is clearly dominated by the bears.
For this week, I expect the price to retrace back to the broken daily range Support which is around the 0.89944 price level which will then act as a resistance level to push the market back down until the next weekly Support.
Last week, we saw the bears flexing their muscle and successfully breaking the range Support to the downside.
Looking at the monthly, weekly and daily timeframe we can see that the market is clearly dominated by the bears.
For this week, I expect the price to retrace back to the broken daily range Support which is around the 0.89944 price level which will then act as a resistance level to push the market back down until the next weekly Support.