USD/CHF again taking the lead in early European trade; testing hourly trendline

Short-term trendline support comes in near .9440 and USD/CHF has fallen 20 pips immediately in European trade to test this level.

If it breaks clearly, look to sell rallies back to .9470 with a stop/loss above .9505.

Edit: That didn’t take long and the trendline is clearly broken in my opinion. Even though its not necessarily my preferred side, technically I’d suggest now selling any 40 pip rallies back to .9470 with a stop-loss above .9505.