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USD/CHF is into a downtrend, so the outlook remains bearish, the pair could drop deeper in the upcoming period. The price has moved sideways in the short term signaling further drop. A range sideways movement within a downtrend represents a continuation pattern.
The current drop below the 0.9088 low has signaled further downside movement, the next target is seen at the 0.9000 psychological level.
The drop below the 0.9080 level has brought a selling opportunity with a first potential target at the 0.9000 level. A breakdown through the first target will open the door for a broader drop.
The outlook will remain bearish, USD/CHF could drop deeper, as long as the price stays below the downtrend line.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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