USD/CHF has recovered slightly till 0.9646 after breaking a major support at 0.9614. Break of 0.9613 support confirms resumption of fall from 1.0343.The pair declined till 0.95610 at the time of writing and is currently …
USD/CHF has recovered slightly till 0.9646 after breaking a major support at 0.9614. Break of 0.9613 support confirms resumption of fall from 1.0343.The pair declined till 0.95610 at the time of writing and is currently trading around 0.95792.
The pair has closed slightly below major support of 0.9614 yesterday which confirms bearish continuation, a decline till 0.9459 (Nov 9th 2016 low)/ 0.9520 (Jun 23rd 2016 low).It should break below 0.94430 (May 3rd 2016 low) for long term trend reversal.
Bearish invalidation can be seen only above 0.97708 (Jun 15th high). Any break above this level will take the pair till 0.9850/0.9900.
Overall bearish invalidation only above 1.0345.
It is good to sell on rallies around 0.9635-0.9640 with SL around 0.9680 for the TP of 0.9545/0.9520.
