Harmonic pattern- Bearish Shark pattern
Potential Reversal Zone - 1.0130
USDCHF was trading higher for more than one month and it hits high of 1.00927 yesterday nearly more than 350 pips. The pair has halted its long winning streak and declined nearly 40 pips. It is currently trading around 1.00566.
On the higher side, near term resistance is around 1.0100 and any violation above will take the pair to next level till 1.0130. Any further bullishness only above 1.0130.
The near term major support is around 1.00470-50 and any violation below targets 1.0030/1.000/0.9970. The pair should break below 0.9900 for bullish continuation.
It is good to sell on rallies around 1.0065-68 with SL around 1.01285 for the TP of 0.9970.
