Last time I was writing about the USDCHF currency pair when it was on the key resistance at 1.0030, which is also the high from the second half of last year. As can be seen in the daily chart below, enough offers appeared on the resistance to push the pair into the trend line running from the bottom of the current year.
In the past week, the trend line has been broken and since then the price has been under it. However, you can not see the continuation of declines, because the price is stuck in consolidation, which is more visible in the 1-hour chart.
Quotations after testing the broken trend line as a new resistance move within the range of which the lower limit is in the area of 0.9830. If therefore, the declines are to be continued, we should first see the effective breaking of the lower band of this range.
Another key level of defence after breaking out is visible only around 0.9646. In the case of rebound from 0.9830, and then overcome the zone at 0.9892, buyers will again have to face the broken trend line.