Technical Analysis for CHF

Technical Analysis for CHF

The pair managed to breach key resistance level of the descending channel shown on graph which is positive and might bring further gains. Trading above 0.9265 became more positive and Linear Regression Indicators support these expectations. Despite overbought signals shown on momentum indicators, they are not important as long as the pair remains stable above 0.9320 today.

The trading range for today is among key support at 0.9235 and key resistance at 0.9515.

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

Support: 0.9320, 0.9280, 0.9265, 0.9235, 0.9200
Resistance: 0.9320, 0.9370, 0.9400, 0.9445, 0.9460

Recommendation Based on the charts and explanations above, our opinion is buying the pair above 0.9340 targeting 0.9400, 0.9445 then 0.9515 and stop-loss with four-hour closing below 0.9280 might be appropriate