Long-term review
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Overview:
- The market of USD/CHF is still showing signs of strength following the break below the level of 0.9285. Therefore, it will turn to a strong resistance. In s this case a stronger drop should be seen towards 0.8863 support for confirmation. Moreover, the trend is still below the three major resistances of 0.9125, 0.9285 and 0.9330, thus it will be a good sign to sell below 0.9285 and sell again below 0.9125. The Swissy is also quoted amid the promise to “sell unlimited euro” in order to support its currency. Hence, psychology level is set at 0.9285, and one should be patient to keep the trade untill the end because the USD/CHF pair is going to fall from the mentioned resistances. Thus, at 0.9285/0.9125 a strong level (resistances) will be formed providing a clear signal for deals with the target seen at the 0.8863 and 0.8752 levels. However, the stop loss is to be placed above the price of 0.9300.
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