USD/CHF 4 Hour: Testing key support level at 0.9580
Suggested positioning: No positions
Technical reasons why: The pair reached two of our bearish targets at 0.9640 and 0.9580 and currently moving within an upward channel where its lower band could act as a support. While the pair broke below the Ichimoku cloud, the combination of indicators our giving us mixed signals.
Alternative Scenario: Above turning point of 0.9730 look for more upside towards 0.9876 and 1.008.
Where to set your stops and limits:
| Support Levels | Turning Point | Resistance Levels |
|---|---|---|
| 0.9580 | 0.9730 | 0.9879 |
| 0.9515 | 0.9803 | 1.008 |
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