USDCHF Chart Technical Outlook finally breaks out of range, the big target is 0.8715
The Swiss Franc remained stable against the US Dollar on the way and on the way down – but the recent downfall of the Greenback has already destroyed the floor under USD/CHF, allowing the Franc to shine.
The pair broke below the 0.8901 to 0.9017 range – a tight one. It found support at 0.8876 and then tumbled toward the old line of 0.8820. The next cushion is only 0.8715, which is the Fibonacci 261.8% extension of the range. Resistance is at 0.8876, .8901, and 0.8922.
I expect the downfall to continue for today, while tomorrow’s moves depend on the CPI.