USD/CHF (a 4 hour chart)
Last week the dollar/franc also corrected to the critical line, and even overcame it, but then completed the correction and it is now trying to resume a downward movement.
The current sell signal is confirmed and strong, as Chinkou span is above the price and the pair is below the Cloud.
The pair is being traded in a range 0.9344 - 0.9270. The first downtrend target is the support level 0.9270.
Chinkou Span is below the price that confirms the sell signal and indicates a bullish sentiment of the pair. Kijun-Sen and Tenkan-Sen are directed downwards. The Cloud is directed down.
Bollinger Bands indicator formed a fixed downward channel.
MACD is growing in a negative area.
The pair came across the support at the 4-hour chart at the local area has 0.9312, after which the price bounced up and started consolidating. After the consolidation the downward movement continued. The first goal is 0.9270. After overcoming this level, the price can head towards 0.9215.
As the alternative scenario the price can go up area of resistance levels between 0.9405 and 0.9405, and then it probably will move down to the support area between the levels 0.9312 and 0.9226.