Technical Analysis for CHF

Technical Analysis for CHF

With a long white candlestick pattern, the pair has ended yesterday’s trading at 61.8% Fibonacci retracement of the entire decline from 0.9840 to 0.9130 zones as seen on the provided daily chart. Stability above moving averages in addition to the positivity on Stochastic and Vortex argue us to suggest potential upside move over intraday basis. A break above 0.9620 will confirm and accelerate the bullishness.

The trading range for today is among key support at 0.9430 and key resistance at 0.9760.

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

Support: 0.9550, 0.9500, 0.9480, 0.9435, 0.9400
Resistance: 0.9620, 0.9660, 0.9690, 0.9725, 0.9760

Recommendation Based on the charts and explanations above, we believe that buying the pair at 0.9550 targeting 0.9760 and stop loss at 0.9400 could be appropriate.