UsdChf- Important break. Don't try to catch a falling knife!!!UsdChf is in a downtrend, there is no question about this and, recently, after a small retrace to the upside contained in a bear flag, the pair dropped again to support.
A break of this support followed 2 days ago and a huge drop yesterday.
At this moment anything is possible and considering that usually UsdChf acts inverse as EurUsd, the fact that the latter is near 1.12 very important resistance could trigger a correction here also.
But, and there is a VERY BIG BUT...
In recent years, although UsdChf is the major and EurChf is the cross, fundamental reasons made EurChf the major and UsdChf the cross and, looking at the EurChf chart we see also here an important breakdown, and here also we could see a continuation to the downside:
In conclusion:
1. UsdChf- Try to sell rallies and a good zone for this could be towards 0.88
2. EurChf- Recently broken support should act as resistance and traders could look for selling opportunities in that zone.
