Technical Analysis for CHF

Technical Analysis for CHF

The pair touched 78.6% correction at 0.9265 then rebounded slightly to the upside. Linear Regression Indicators are still negative showing the possibility of extending the overall downside move this week unless levels 0.9370 were breached and the pair stabilized above it. Some bullish correction is likely now affected by the referred to correction at 0.9265, but we will use this correction to sell the pair from appropriate Risk/Reward Ratio.

The trading range for this week is among key support at 0.9130 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: 0.9265, 0.9235, 0.9205, 0.9170, 0.9130
Resistance: 0.9300, 0.9325, 0.9370, 0.9400, 0.9425

Recommendation Based on the charts and explanations above, our opinion is selling the pair below 0.9325 targeting 0.9265, 0.9205 then 0.9130 and stop-loss with four-hour closing above 0.9370 might be appropriate this week