Technical Analysis for CHF

Technical Analysis for CHF

The pair managed to remain stable above 0.9265 represented in 78.6% correction shown on graph and above Linear Regression Indicators. Stability above the referred to 0.9265 keeps the possibility of extending the upside move, and the first suggested target is 61.8% correction followed by resistance level of the expanding sideways range the 50% correction at 0.9445.

The trading range for this week is among key support at 0.9080 and key resistance at 0.9485.

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

Support: 0.9300, 0.9265, 0.9235, 0.9205, 0.9170
Resistance: 0.9325, 0.9370, 0.9400, 0.9445, 0.9485

Recommendation Based on the charts and explanations above, our opinion is buying the pair above 0.9300 targeting 0.9370, 0.9445 then 0.9485 and stop-loss at four-hour closing below 0.9265 might be appropriate this week In case of stop-loss, sell the pair below 0.9265 targeting 0.9205, 0.9130 then 0.9080 and stop-loss at four-hour closing above 0.9300 might be appropriate this week