USDCHF traded a choppy 0.9572/0.9650 range

Jim Langlands FX Charts

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

Author

Jim Langlands

FX Charts

Jim Langlands began his trading career in the commodities markets in London in 1976, before moving to Australia in 1979 to work as a floor trader on the Sydney Futures Exchange.

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