Last Friday, the USD / CHF has made a pullback on 0.9394 resistance after leaving its medium term bearish channel (purple dotted lines). This level corresponds to a bearish slant medium / long term (dashed black line). Thereafter, all the upward movement was traced back under 0.9325 and gave us the sell signal. The course evolves again into its channel.
We advise to trade only short positions (selling) as 0.9350 is resistance. The breakout of 0.9270 will give a new sell signal and open the way to the lowest of June at 0.9182.
In case of return above 0.9350, we advise you to stay flat (neutral) between this level and 0.9394.
