USDCHF with a possibility to fall further

USDCHF – As a result of Friday’s depreciation of the US dollar caused by Janet Yellen speech in Jackson Hole conference, the USDCHF broke local support at 0.9600. Although today market has opened up with a bearish gap, it has been quickly closed and we have been seeing declines for several hours again. Technically, this trend could continue even to around 0.9445. In short term, therefore, it is worth considering short position on this instrument.