outlook<\/a> is less clear since price broke on a closing basis below the red lower borderline of the ascending channel on May 14. It is now debatable whether the short-term uptrend is still intact or whether a new bearish trend is developed.\u00a0<\/p>\nAfter the trendline break USD\/CHF fell to a low of 0.8988 on May 16 before recovering and rising back up to the underside of the trendline at the current day\u2019s highs of 0.9117.\u00a0<\/p>\n
It is possible this recovery represents what is known as a \u201cthrowback\u201d in technical terms. If so, price will probably go lower after \u201cair-kissing goodbye\u201d the underside of the trendline \u2013 though this time with more vigor.\u00a0<\/p>\n
In such a scenario, a break below the 0.8988 lows would confirm a reversal of the short-term trend and result in a substantial extension lower, with an initial target most probably located at 0.8878 where the 100 and 200-day Simple Moving Averages (SMA) converge.\u00a0<\/p>\n
Alternatively a break back inside the channel would reassert the dominance of the bullish uptrend and negate the break down out of the channel that happened on May 14.\u00a0<\/p>\n
Such a move would need to break clearly and decisively back inside the channel on a closing basis, probably with a long green candle or three green candles in a row, the definition of \u201cdefinitive\u201d in technical terms.\u00a0<\/p>\n
If such a recovery evolves it will mean the break below the red trendline was probably a \u201cfalse break\u201d and the uptrend remains intact. Such a move would be expected to reach close to the 0.9225 highs of the year.\u00a0<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"
USD\/CHF has been in a rising channel all year with a bullish bias.\u00a0 A break below the base of the channel on May 14 brought into doubt the uptrend.\u00a0 The pair is now at a critical point \u2013 further weakness confirms a reversal; strength a continuation back inside the channel.\u00a0 USD\/CHF is at a critical […]<\/p>\n","protected":false},"author":2,"featured_media":6243,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,308,597,256,254],"class_list":["post-306679","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-technical-analysis","tag-usdchf","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/306679","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=306679"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/306679\/revisions"}],"predecessor-version":[{"id":306681,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/306679\/revisions\/306681"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/6243"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=306679"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=306679"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=306679"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}