USD/CHF - Breaking The Support at 0.9278
USD/CHF has broken the support at 0.9278 (04/06/2015 low). Resistance can be found at 0.9503 (05/06/2015 high). Stronger resistance can be found at 0.9573 (29/05/2015 high). Hourly support is given at 0.9252 (intraday low). Stronger support lies at 0.9072 (07/05/2015 low). In the short-term, the pair is gaining downside momentum, therefore we remain bearish over the next few weeks.
In the long-term, there is no sign to suggest the end of the current downtrend. After failure to break above 0.9448 and reinstate bullish trend. As a result, the current weakness is seen as a counter-trend move. Key support can be found 0.8986 (30/01/2015 low).