The Swiss franc currency is looking more bearish against the US dollar, following the release of yesterday’s higher than expected CPI inflation number. The four-hour time frame shows that a bearish breakout from a well-defined triangle pattern is underway while the USDCHF pair trades under the 0.8970 level. If the bearish breakout remains in play the USDCHF pair could fall towards the 0.8920 level.
The USDCHF pair is only bullish while trading above the 0.8970 level, key resistance is found at the 0.9000 and 0.9020 levels.
The USDCHF pair is only bearish while trading below the 0.8970 level, key support is found at the 0.8920 and 0.8900 levels.