Looking at USD/CHF chart, we can see the steady fall from the 0.942 range to the 0.938 range and further below in the 0.93 during yesterday’s session, where it managed to form support and allow the following rebound back up towards the 0.938 level now acting as resistance.
Earlier today, it didn’t manage to consolidate at the 0.938 level causing it to fall once again in the 0.934 range where it was last found trading. Today we could expect another attempt to climb towards the 0.938 resistance level and possibly move beyond.
However, if it doesn’t manage to hold the current level then a move towards the 0.93 support can be expected.
