USD/CHF Daily Analysis
point. Recovery from 0.9369 should be limited well below 0.9648 resistance to bring another fall. On the downside, the break of 0.9369 will resume a larger decline from 1.0063 towards 0.9149 support next.
In the bigger picture, the break of 0.9471 support turned resistance argues that the medium-term up trend from 0.8756 has been completed with three waves up to 1.0063. Long term sideway pattern might have started another falling leg. A deeper decline would now be in favor as long as 0.9648 resistance holds, to 0.9149 structural support. A sustained break there could pave the way back to 0.8756.