The Swiss Franc appreciates against the US Dollar, the correction continues and the price will try to reach the 50% retracement level this week. The price is trading between the median line (ML) and the upper median line (UML) of the descending pitchfork, as long as the price is trading inside of the pitchfork, the pair remain bearish and the corrective phrase will continue, the price will try to reach new lows. Is very important to see what will happen on the US dollar index because is challenging the uptrend line (important support level), if the USDX will break the uptrend line then the US dollar will decline further against all currencies.

Later today we’ll have important data from the US, probably we’ll have some volatility in the market.


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