USDCHF traded a choppy 0.9572/0.9650 range
|USDCHF: 0.9628
US$Chf traded a choppy 0.9572/0.9650 range on Wednesday and with the momentum indicators mixed a cautious stance is required.
1 hour/4 hour indicators: Neutral – Turning higher?
Daily Indicators: Turning lower
Weekly Indicators: Neutral
Preferred Strategy: The daily charts still look heavy but the 4 hour momentum indicators hint at a retest of the 0.9650/60 area, above which could see a return towards 0.9700/20. If seen, it may be a decent sell but In the meantime look to buy dips with a tight SL.
Buy US$Chf @ 0.9585. SL @ 0.9560, TP @ 0.9660
| Resistance | Support | ||
| 0.9735 | Minor | 0.9572 | Session low |
| 0.9700 | Minor | 0.9550 | 100 MMA /Rising trend support |
| 0.9680 | 23.6% of 1.0004 /0.9572 | 0.9515 | Minor |
| 0.9665 | Minor | 0.9500 | Minor |
| 0.9650 | Session high | 0.9485 | Minor |
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