We published dovish sentiments on US Dollar versus Swiss Franc in our analysis on 18th Sept when the market took an impulsive hawkish breakout from 61.8% fibo retracement level towards our strong weekly support zone 0.9350. King Dollar ran out of bullish momentum at 0.9330 and fell near our 61.8% fibo zone at 0.92150, however, still trading above the important fibo levels i.e 0.9193 and 0.9110. After USDCHF broke above 0.9240 with an impulsive style, the pair has entered into the bullish trend as far as it stays above aforementioned support level 0.9150 - 0.9190. Our lower trend line in the four hourly time frame is also providing a strong support - side by side to the 61.8% fibo level and exponential moving average 200, indicating that USDCHF needs to break below the aforementioned area to reverse the gains and strengthen the Swiss Franc. 

BULLISH AND BEARISH CONDITIONS/ POSSIBILITIES :

From the current market structure we are expecting that the market will retest our lower trend line at 0.9190 and then adapt to its bullish stance by reaching up to our major resistance level 0.9350 - 0.9400. On the bearish side, if US Dollar lost the favor of fundamentals in terms of providing further gains and the bears made the pair break below 0.9190, our next targeted destination would 0.9100. We cant expect a further fall below 50% fibo level - unless we find a strong impulsive closing below the aforementioned major support zone, only this would open the doors towards 0.9027. On the intraday time frame, our lowest trend line on the weekly chart is the actual major trend changer, as long as the pair stays above 0.9000 price action, USDCHF should be considered in buying trend. 

USDCHF

Sep 26 2021