Bearish: USD/CHF is currently at 0.9238 after the flag pattern breakout. We are in a range. We are looking for a continuation to the ATR target at 0.9194 with a further target of 1.618 Fibo at 0.9137.
We have convergence in play for the move. Watch the USDX for directions. The average daily true range (ATR) for the pair is 98 pips, and it’s 180-day average is 99 pips per day. USDX is currently moving down.
