Technical Analysis for CHF

Technical Analysis for CHF

The pair rose yesterday and is stable now above 0.9080 levels forcing us to expect an extension to the upside move, to retest resistance levels reaching 0.9170. Stability above 0.9080 levels is required to support this positive outlook; Stochastic is currently is attempting to turn positive supporting our expectations.

The trading range for today is among key support at 0.9000 and key resistance at 0.9235.

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

Support: 0.9100, 0.9080, 0.9045, 0.9000, 0.8980
Resistance: 0.9130, 0.9155, 0.9170, 0.9200, 0.9235

Recommendation Based on the charts and explanations above, our opinion is buying the pair around 0.9100 targeting 0.9130, 91.70 then 0.9200; stop-loss with four-hour closing below 0.9080 might be appropriate