USDCHF: Prefer to sell rallies
|USDCHF: 0.9819
US$Chf traded lower today, breaking through the previous rising trend support and looking as though it wants to test further downside levels, although it is currently sitting right on the 200 DMA which may provide near term support.
With the daily momentum indicators pointing increasingly lower though, a break of 0.9800 would allow a run towards 0.9725/30.
On the topside, minor resistance will be seen at 0.9850 and at 0.9875 and selling into strength today would seem to be the plan, with a SL placed above 0.9915.
Preferred Strategy: Sell US$Chf @ 0.9880. SL @ 0.9915, TP @ 0.9780
| 24 Hour: Prefer to sell rallies | Medium Term: Neutral | ||
| FX Charts Position: | Flat | ||
| Resistance | Support | ||
| 0.9946 | 21 Nov high | 0.9810 | 200 DMA /Session low |
| 0.9914 | Session high/200 HMA | 0.9800 | (38.2% of 0.9420/1.0037) |
| 0.9900 | Minor | 0.9775 | Minor |
| 0.9875 | Minor | 0.9750 | Minor |
| 0.9845 | Minor | 0.9727 | (38.2% of 0.9420/1.0037) |
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