- USD/CHF bears about to jump in as price tests resistance.
- Bears looking for downside extension from daily resistance.
USD/CHF is testing the bear’s commitments in Asia with prospects of a downside continuation of failures by the bulls to break the grip of the bears.
The chart is showing a dominant downtrend, so the tred is your friend in this scenario as illustrated on the following charts.
Daily chart
-637556903426662179.png)
4-hour chart
-637556903997358723.png)
From a 4-hour perspective, the price is testing the old support which would be expected to now act as resistance and lead to follow-through and an onward continuation.
This article was originally published by Fxstreet.com. Read the original article here.