The USD/CHF try stalled its robust positive move and witnessed a dramatic intraday turnaround from three-week ace in reaction to China's retributive tariffs on $75 billion value people merchandise.
The sharp intraday pullback has currently dragged the try farther below a support marked by the lower finish of weekly ascending trend-channel and already appears to possess confirmed a pessimistic breakdown.
Meanwhile, technical indicators on the 1-hourly chart quickly drifted into the pessimistic territory and are losing positive momentum on 4-hourly/daily charts, more adding credence to the negative outlook associated setting the stage for an extension of the corrective slide.
A follow-through weakness below the zero.9800 handle can reinforce the pessimistic set-up and switch the try prone to accelerate the slide more towards zero.9775 horizontal zone en-route weekly lows - round the zero.9760 region - and prior the zero.9730 support space.
On the flip aspect, the ascending trend-channel support breakpoint - around mid-0.9800s - currently becomes immediate resistance, on top of that a bout of short-covering may assist the try to aim back towards the trend-channel resistance - presently close to the zero.9880-85 region.
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