USDCHF Trend Continuation: Recently Broke Support, Now Retesting
USD/CHF Recently broke its upward momentum and has begun a downtrend.
We are currently testing resistance.
If USD/CHF fails to break this resistance level , we can expect further downward movement.
Side Note: We see that the blue resistance has been broken, this may be an indication of bullish momentum, although I see it as a small structure break before a bounce downward off of the strong structure resistance .
-RSI was diverging before recent downtrend... Currently not in oversold state.
We are currently testing resistance.
If USD/CHF fails to break this resistance level , we can expect further downward movement.
Side Note: We see that the blue resistance has been broken, this may be an indication of bullish momentum, although I see it as a small structure break before a bounce downward off of the strong structure resistance .
-RSI was diverging before recent downtrend... Currently not in oversold state.