Janet Yellen’s dovish comments yesterday drove USDCHF to 0.96635 during the US and Asia trading sessions. We are currently seeing the pair double bottomed at a major price point and at the WM1. The currency is poised for a bounce above the current lows but caution should be taken as the currency may see further declines.
Earlier we had the Swiss UBS Consumption Indicator and KOF Leading Indicator release being positive however we hardly saw any further significant move in price.
The currency is currently trading at the 0.96500
Short Term Bias : Bearish
4 Hour Chart
Continued downward move towards the next support level of 0.95400