USD/CHF Long-Term Trend: Bearish
Key Resistance Levels: 0.9875, 0.9922, 0.9977
Key Support Levels: 0.9779, 0.9721, 0.9678
The price on the higher time frame was trading in an uptrend and recently it has reversed direction after facing resistance at the 1.0050 level. It has been rejected after testing that area and broke a support level of 0.9868 which shows a bearish bias.
USD/CHF Medium-Term Trend: Bearish
On the lower time frame, the pair is moving in the major trend’s direction. It has recently broken a consolidation zone of 0.9977 and 0.9922 and sustained below that. The pair has now broken and retested a minor level of 0.9875 before continuing the momentum.
Sell Limit Order @ 0.9835
TP 1 @ 0.9785
TP 2 @ 0.9710
Stop Loss @ 0.9885
Trade Safely 🙂