USD/CHF forecast

   While the pair is being traded below the resistance level 1.1170, descending attitude persists. A “diamond” trend-continuing figure formation is in progress now. There are following levels and variants of events to develop:

 

   Primary variant: the pair gets under the level 1.0955 (goes below the lower bound of “diamond” figure); in such case it will reach intermediate support 1.0855 and, possibly, the major one – 1.0720.

 

   Alternative variant: the pair is unable to consolidate below the resistance 1.1170 and rises further. Still, we can’t state the development of an uptrend while the pair is being traded under the level 1.1280 (under the higher bound of “B-B+” downtrend). However, if the pair rises above the level 1.1280, an uptrend will be started having the target set to resistance level 1.1520.

 

 

   The pair went below key support 1.1170, what led to development of a strong downtrend having the target of dropping set at support levels 1.0855 and 1.0720. If the pair drops below 1.0720, it will get to support 1.0370. Resistance is at level 1.1170.

 

Weekly graph, Monthly graph