USD/CHF Breaks Key Support โ€“ Bears Taking Control?

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The USD/CHF pair has decisively broken below its 200-EMA (0.8887) and key horizontal support (0.8915), signaling a potential shift in momentum toward further downside. After failing to hold above 0.90, sellers have stepped in, dragging price action lower.

๐Ÿ” Technical Overview:

โœ… Support Break โ€“ The loss of 0.8915 puts 0.88 in focus.
โœ… 200-EMA Breached โ€“ A significant bearish technical development.
โœ… RSI at 37.52 โ€“ Momentum is weak but not yet oversold.
โœ… MACD Bearish โ€“ The bearish crossover remains intact, confirming downward pressure.

๐Ÿ“Œ Key Levels to Watch:

๐Ÿ”น 0.8915 โ€“ Broken support, now resistance; bears defending it strongly.
๐Ÿ”น 0.8800 โ€“ Next major support level; a break below could accelerate selling.
๐Ÿ”น 0.9000 โ€“ Bullish recovery only valid above this level.

๐Ÿ’ก Trading Outlook:

๐Ÿ”ป Bearish case: As long as USD/CHF remains below 0.8915, bears are in control. If 0.88 breaks, it could open the door toward 0.87.
๐Ÿ”บ Bullish case: Buyers need to reclaim 0.8915 and the 200-EMA to shift momentum back in their favor.

With the USD showing weakness, CHF bulls could push further downside. Is this the start of a new downtrend, or will buyers step in at 0.88? ๐Ÿšจ

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