USDCHF extended the downswing from 0.9862 (April 13, 2015 high) to reach 0.9277 (May 1, 2015 low) before ranging. While the 0.9446 resistance (as marked on the 240minute chart) caps the price action, a break below .9277 would confirm return of weakness and offer scope for further losses towards 0.9226, the equality target (of 1.0126-.9490 from .9862) which is also near 0.9228 (February 11, 2015 low) ahead of .9170 (February 6, 2015 higher low). However, back above the 0.9446 area would prolong the consolidation towards 0.9479/0.9490/0.9493 resistance zone.
Outlook:
Short term: neutral
Long term: bearish
Outlook:
Short term: neutral
Long term: bearish
