Forex Marketz Daily Forex News – Fully Markets Update
The US Dollar continues to fall against the Swiss franc. The USD/CHF has fallen for three straight days as price action has been testing the bottom of the familiar consolidation range above the key pivot at 0.94.
A daily close below the technical support at 0.9428/27 will see a challenge of the technical support located at 0.9212. Should the Dollar turn higher we note resistance at 0.9755. A daily close above this level challenges the technical resistance at 0.9920.
For right now price action is too close to support level to warrant a short USD trade. There are no clear bullish reversal signs for a long Dollar trade either. For now, I am sitting on the side lines waiting for a clearer trade opportunity to present itself before entering a long or short trade.