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.
USD/CHF finished last week on a minor note, while the recover attempts were very limited, and the pair will keep craving for testing bids around 0.9260/50. Large offers remain close to ninety-third figure, and a break above this level could support recovery to 0.9340/50.
Meanwhile, the support 0.9260/40 looks good, and can serve as the basis for a pause in the decline, but traders warn that its loss would be a signal to a further fall of the pair to 0.9200 and 0.9180/70.