USDCHF - We look to Sell at 0.9870
|USDCHF - We look to Sell at 0.9870 (stop at 0.9900).
USDCHF - Due to an Ending Wedge formation, we continue to treat extended gains with caution. Selling pressure from 0.9907 resulted in all the initial daily gains being overturned. There is no sign that this bearish momentum is faltering but the pair has stalled close to a previous swing low of 0.9840. Trend line support is located at 0.9835. As this corrective sequence continues we look to set shorts on a rally at better risk/reward levels. Our profit targets will be 0.9820 and 0.9769.
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