USD/CHF Reached our Second Target

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USD/CHF Reached our Second Target

1:45 PM (EST) Update

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