Technical Analysis – USDCHF in descending channel
Posted on May 18, 2015 at 7:14 am GMTUSDCHF is in a descending channel and has retraced half of the rebound from 0.8209 to 1.0127. The break below the key level of 0.9540 shifted the bias to the downside. RSI is in bearish territory below 50. In the near – term, consolidation is expected around the 50% Fibonacci at 0.9170. A move lower and a decisive break of 0.9000 would strengthen the downside bias and open the way towards 0.8620 and 0.8209. A break above 0.9862 would help [..]