USD/CHF Potential Downward Movement

USD/CHF Long-Term Trend: Bearish

Key Resistance Levels: 0.9751, 0.9875, 0.9978

Key Support Levels: 0.9609, 0.9527, 0.9446

Daily Chart:

The price on the higher time frame has reversed the direction after facing a rejection around 1.0064 level. The pair has then broken a trendline and also the support level of 0.9761 with good momentum. We expect the pair to pick momentum in the downside.

USD/CHF Medium-Term Trend: Bearish

1-Hour Chart:

On the lower time frame, the pair is moving in the major trend’s direction. The price broke a support level of 0.9875 with good momentum and another minor support of 0.9751 has been broken and retested before continuing the momentum.

Signal Idea:

Sell Limit Order @ 0.9691

TP 1 @ 0.9611

TP 2 @ 0.9531

Stop Loss @ 0.9771

Trade Safely 🙂