Technical Analysis for CHF

Technical Analysis for CHF

The pair continued moving to the upside until approaching 38.2% correction at 0.9380 as shown on graph. The upside move might extend, but the pair has to breach the referred to level and stabilize above it to increase this possibility. Linear Regression Indicators are positive and RSI tends to the upside supporting our positive outlook. Breaking 0.9290 levels and stabilizing below it could fail our intraday expectations.

The trading range for today is among key support at 0.9290 and key resistance at 0.9525.

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

Support: 0.9350, 0.9320, 0.9290, 0.9265, 0.9230
Resistance: 0.9380, 0.9400, 0.9450, 0.9485, 0.9525

Recommendation Based on the charts and explanations above, our opinion is buying the pair above 0.9360 targeting 0.9400, 0.9450 then 0.9525 and stop-loss with four-hour closing below 0.9290 might be appropriate today