Baxia Markets
June 25, 2021

Slight downward trend on USDCHF

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Previously, the USDCHF had made some significant movements. The price made a 2.25% increase from June 16th to June 17th; This was a huge rising compared to other trends this year. Now, the price stopped rising and cooled down for 6 days. Although these 6 days did not make too much difference on the price, we still observe a slight downward trend. Will this trend continue?



The price already touched the 38.2 level Fibonacci, which was not too low; however, it still could be a support point. And the price now started hovering around 23.6 level Fibonacci. The blue line is the moving average 15, and the red line is the moving average 25. From these two lines we can see they twist together, which becomes more confusing for us to find a clear trend. 




The recent SAR trend looks flatter than the previous; it does not show too many signals. Stochastics just bounced back to the average area, the oversold situation calmed down. 


Although the downward trend is slight, the price has not reached the high-pressure support line yet. Let's wait until the price meets the 50% level Fibonacci.


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