USD/CHF capped below 0.8100, potential head-and-shoulders pattern looms
The US Dollar edges lower against the Swiss Franc as a potential bearish head-and-shoulders formation takes shape below the 0.8100 resistance.
USDCHF
The US Dollar saw marginal losses against the Swiss Franc on Tuesday, with buyers unable to sustain moves above 0.8100. The repeated failure at this level has brought attention to a possible head-and-shoulders pattern forming on the chart.
A confirmed H&S pattern would suggest a bearish reversal, though the neckline remains intact for now. The price action reflects ongoing indecision among traders.
Dollar bulls need a clear break above 0.8100 to invalidate the negative setup, while acceptance below the neckline could open the door for further downside.
Source: FXStreet Forex News