Technical Analysis for CHF

Technical Analysis for CHF

Support levels 0.9270 – 0.9265 represented by 61.8% correction of the CD leg of the bullish Harmonic AB=CD Pattern managed to stop the pair's movement to the downside. This level also represents support around the suggested top B of the harmonic formation. Stability above that correction forces us to hold on to our positive expectations because the pair is forming CD Leg of the harmonic formation shown in blue. Breaking 0.9200 levels worries us in regards to the positive expectations.

The trading range for today is among key support at 0.9155 and key resistance at 0.9420.

The general trend over short term basis is to the downside stable at levels 0.9775 targeting 0.8860.

Support: 0.9270, 0.9235, 0.9200, 0.9180, 0.9125
Resistance: 0.9300, 0.9320, 0.9350, 0.9370, 0.9425

Recommendation Based on the charts and explanations above, our opinion is buying the pair above 0.9270 targeting 0.9320, 0.9350 then 0.9425 and stop-loss with four-hour closing below 0.9200 might be appropriate