FxWirePro: Sell USD/CHF below 0.9240, down trend to resume in the short term

• The USD/CHF rebounded from 0.9193 level and broke 0.9205 (23.6% retracement level) and is approaching to test 0.9240 (38.2%  retracement level).

• The currency is trading at 0.9220 level, the immediate support can be seen at 0.9192. A break below this level will expose the pair to next support level at 0.9150.

• Major resistance can be found at 0.9296, a break above this level will exposes it to the 0.9332 handle.

Recommendation: We prefer to short below 0.9255 with Targets 0.9190 & 0.9150, SL 0.9290

Resistance Level

R1: 0.9220 

R2: 0.9241 (38.2 % Retracement level 0.9149 to 0.9333)

R3: 0.9267 (50% Retracement level)

Support Levels

S1: 0.9187                           

S2: 0.9163           

S3: 0.9149