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USD/CHF technical outlook

  • Pair surpasses the 0.99 marks and currently trading at 0.9940levels.
     
  • It made intraday high at 0.9942 and low at 0.9904 levels.
     
  • Intraday bias remains bearish below the 1.0073 levels.
     
  • 10, 25 and 50D EMA heads down, which signals bearish trend.
     
  • Upside of recovery should be limited below 0.9972 resistance levels and bring another fall.
     
  • A daily close above 0.9972 levels will turn near term outlook bullish.
     
  • Below 0.9660 will extend the fall to 0.9475 key support levels next.

We prefer to take short position is USD/CHF around 0.9950, stop loss 1.0073 and target 0.9662.

 

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