USD/CHF has continued its trading range consolidation within the context of a clear and strong bearish trend that has been in place for around a month. The current consolidation has prevailed for the last week and a half, with its upper border around key 0.9330 resistance and its lower border at the new all-time low at 0.9200, established just last week. In the event that this 0.9200 all-time low is broken to the downside, thereby confirming a continuation of the entrenched downtrend, a key downside support target in uncharted territory resides around the 0.9050 price region, which is the 161.8% Fibonacci extension of the latest major bullish run. Significant resistance within the context of the strong current bearish trend continues to reside around the noted 0.9330 price region.
