Technical Analysis for CHF

Technical Analysis for CHF

The pair stabled yesterday above 0.9375 with four-hour closing triggering another upside push that took the pair to trade close to 0.9495 levels. Breaching 0.9495 and stability above it might extend bullishness, but Stochastic is showing negative signals indicating great volatility. The pair is trading close to key support of the ascending channel broken earlier; therefore we prefer to be neutral today to see the pair around 0.9495 levels.

The trading range for today is among key support at 0.9375 and key resistance at 0.9655.

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

Support: 0.9455, 0.9425, 0.9400, 0.9375, 0.9350
Resistance: 0.9495, 0.9515, 0.9570, 0.9610, 0.9655

Recommendation Based on the charts and explanations above, we will cancel our previous expectation and be neutral for now awaiting more confirmations for the next move