USD/CHF Trade Idea

Harmonic Pattern formed- Bearish Butterfly Pattern

Potential Reversal Zone -1.0125.

• The pair has made a high of 1.0085 at the time of writing and started to decline from that level.
   
• Any break above 1.0125 will take the pair to new level 1.0160/1.0240 in short term.
   
• On the downside major support is around 1.0025 and break below targets 0.9980/0.9950.
   
• Overall weakness only below 0.9980 levels.

It is good to sell on rallies around 1.0065-70 with SL around 1.0125 for the TP of  0.9980/0.9950

Resistance                               

R1-1.0125

 R2-1.016

R3- 1.0240

Support

S1- 1.0025

S2-0.9980

S3-0.9950