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USD/CHF: 'Double Top' led to decline

USD/CHF: 'Double Top' led to decline

Information is not investment advice

The last 'Double Top' pattern led to the current decline. There's also a 'Flag' pattern, which has been broken, but the 89 Moving Average acted as support. Thus, it's likely to have an upward correction towards the previously tested resistance at 1.0067. The subsequent pullback from this level could lead to another decline towards the next support at 1.0023, so we could have a new local low.

15-3-2019-CHF-H4.png

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