Technical analysis
The USDCHF pair remains under pressure as a large head and shoulders pattern on the four-hour time frame continues to play out to the downside.
According to the CCI and Stochastic indicator the trend on the four-hour time frame the USDCHF pair is trading in overbought trading conditions.
What the possible outcomes are
In our most likely scenario, the USDCHF pair will start to decline back towards the 0.9025 support level from current levels as the bearish price trend in the pair remains strong.
Alternatively, the USDCHF pair will stage one final corrective move higher towards the 0.9095 resistance level before staging a decisive move under the 0.9000 support level.
Key levels
Support 0.9025 0.8990
Resistance 0.9095 0.9120
