# USD/CHF Channel Break and Retest? (June 9, 2014)

Source: https://www.tradersway.com/resources/market-info/usd-chf-channel-break-and-retest-june-9-2014/
Language: en
Updated: 2014-06-09

USD/CHF has been trading inside a rising channel for nearly a month before the ECB rate decision last week triggered a sharp break lower. Since then price has made a decent correction close to the bottom of the channel.



Stochastic is moving down from the overbought area, indicating that a selloff may be in the cards. This could be enough to push the pair to new lows, possibly until the .8800 major psychological support if the downtrend persists.



![USD/CHF Channel Break and Retest? (June 9, 2014)]



Shorting on a pullback to the .8950 broken channel support with a stop inside the channel and a target of .8850 could yield a 3:1 return on risk for a short-term trade.



*By Kate Curtis from Trader’s Way*