The Swiss franc currency could be preparing to drop against the US dollar as the pair looks to be forming a large bearish price pattern. The four-hour time frame shows that a head and shoulders pattern will form if the USDCHF pair drop towards the 0.9160 area. As long as the price trades under the 0.9275 level this week then a bearish reversal seems the most likely scenario.
The USDCHF pair is only bullish while trading above the 0.9200 level, key resistance is found at the 0.9238 and 0.9275 levels.
The USDCHF pair is only bearish while trading below the 0.9200 level, key support is found at the 0.9160 and 0.9080 levels.
