• USD/CHF bears are in control following the Fed.
  • The pair is near term bullish, medium-term bearish with a monthly upside bias.

USD/CHF has plummeted following the Federal Reserve and there are prospects of a downside continuation in line with the broader daily trend.

With that being said, corrections are underway so the bears will be looking for a discount at this juncture.

The market is correcting with plenty to go until the old support is tested that has a confluence with a 61.8% Fibonacci retracement level.

The bears have been in control for this month with eyes on the next structure to the downside.

However, it would be usual to see a correction at this juncture and the 38.2% Fibonacci retracement level has a confluence with prior support that would be expected to be a resistance on a restest.

Meanwhile, the upside is on the cards from a longer-term perspective.


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