Technical Analysis for CHF

Technical Analysis for CHF

The pair retested around 0.9375 levels and moved back to the upside but left a price gap that might be covered (not for sure); therefore we prefer to remain neutral in our weekly report whereas we need to see if the referred to level can hold on in front of any attempts to the downside. Trading again above 0.9495 levels is important to bring positivity back, and since the pair is trading between 0.9495 and 0.9375 levels we will be neutral.

The trading range for this week is among key support at 0.9245 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: 0.9400, 0.9375, 0.9320, 0.9305, 0.9280
Resistance: 0.9460, 0.9495, 0.9570, 0.9600, 0.9655

Recommendation Based on the charts and explanations above, we remain neutral for now awaiting more confirmations for the next move