USD/CHF Price Analysis: Bears eye a break to test 0.9320 and 0.9290
|- USD/CHF bears are coming to the table following three days or higher closes.
- The bears eye a break of trendline support for a move into Wednesday's and Thursday's lows.
USD/CHF is trading between key support and resistance on top of the prior week's highs of 0.9331, potentially trapping breakout traders for a move to the downside with Wednesday's highs near 0.9320 and Thursday's low near 0.9290 eyed. The following illustrate the prospects of a move into three days of longs in the market for the closing session for the week:
USD/CHF H1 chart
The bearish thesis, while on the backside of the prior bullish trend and potential final phase from Thursday's low in the third day of longs, L3, is a long squeeze for the day ahead to square the books before the weekend and ahead of the month's end next week.
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