FxWirePro: USD/CHF closes well below 100- W MA, decline till 0.9540 likely
USD/CHF continues its losing streak and has broken support of 0.96650 low made on Jun 1st 2017. The pair declined till 0.9620 100% projection of 1.0342 to 0.9860 from 1.0099. Weekly bias is on the downside and any minor …
USD/CHF continues its losing streak and has broken support of 0.96650 low made on Jun 1st 2017. The pair declined till 0.9620 100% projection of 1.0342 to 0.9860 from 1.0099. Weekly bias is on the downside and any minor bullishness can be seen only above 0.9808 May 30th 2017 high.
Any break above 0.9808 will take the pair till 0.9835 (38.2% retracement of 1.00998 and 0.96220)/0.9900/0.9925 (50- day MA).
On the lower side, any break below 0.9617 will drag the pair down till 0.9580/0.95490 (Nov 9th 2016 low).
Overall bearish invalidation only above 1.03435.
It is good to sell on rallies around 0.9700 with SL 0.9765 for the TP of 0.9617/0.9549.
