USD/CHF Long-Term Trend: Bullish
Key Resistance Levels: 0.93100, 0.93321, 0.93550.
Key Support Levels: 0.92363, 0.92184, 0.91948.
The price on the higher time frame found support around the 0.92350 CHF mark where the buyers managed to overwhelm the sellers. The market reversed and moved higher and we could see the long wicks to the downside which shows that the bulls are in control.
USD/CHF Medium-Term Trend: Bullish
On the lower time frame, the pair posted an inverse head and shoulders near the key support level which led to a fakeout and then a reversal to the upside. The market is showing a small range above the new resistance area (now support), where we expect a huge move to the upside in the coming hours.
Buy Limit Order @ 0.92374
TP 1 @ 0.93078
TP 2 @ 0.93321
Stop Loss @ 0.92142
Trade Safely 🙂