USD/CHF Long-Term Trend: Bearish
Key Resistance Levels: 0.9373, 0.9440, 0.9500
Key Support Levels: 0.9210, 0.9044, 0.8920
The price on the higher time frame was in a clear uptrend before reaching a strong resistance around the 0.9440 USD level. The price reversed and broke the uptrend to the downside. A further downside movement is expected toward the 0.9210 USD mark.
USD/CHF Medium-Term Trend: Bearish
On the 1-hr time frame, the price is trading inside a bearish channel. The pair posted a correction count to the resistance level where it found some sellers. We have a 61.80% Fibonacci retracement level @ 0.9268 USD that pushed the price to the downside.
Sell Market Order @ 0.9252
TP 1 @ 0.9212
TP 2 @ 0.9044
Stop Loss @ 0.9268
Trade Safely 🙂