Trading was muted in USDCHF yesterday. The market failed to extend Tuesday’s losses to any significant degree but nor was there any sizeable reaction. This left the currency pair below the trendline and mvg avgs with limited net movement. That latter factor dilutes negative signals for sentiment but the underlying tone is still assessed as bearish and so today we look for rallies to be capped near .9715.
There is downside potential through .9670 to .9632 or even .9592. Only above .9748 is positive.