USDCHF: Fibonacci support under-attack as planned!
In accordance with our previous technical comment, which we wrote on May 01 under the title “ USDCHF is bearish below 0.9480” we can see from the first look at the daily chart that, the pair has collapsed towards 0.9215 zones.
The afore-mentioned zone represents the 50% Fibonacci of the bounce from 0.8299 to the significant short-term high placed in the 1.0130 regions.
Know Sure Thing indicator moves lower into negative territories, while Ribbons lines-EMA21 to 55- continued to cover the movements from the topside.
In result, we are still bearish and a break below the 0.9512 support will expose the main technical objective of our analysis at 0.9000 psychological