Technical Analysis for CHF

Technical Analysis for CHF

The pair touched key support level of the downside move as shown on graph which triggered a slight rebound that didn’t last, whereas the pair is still facing a negative pressure. Stability below 0.8960 will keep the negative pressure; despite the oversold signals showing on momentum indicators, stabilizing below the referred to level might trigger further bearishness towards 0.8840 levels at least.

Support: 0.8900, 0.8860, 0.8840, 0.8765, 0.8720
Resistance: 0.8930, 0.8960, 0.8980, 0.9000, 0.9030

Recommendation Based on the charts, sell the pair below 0.8930 targeting 0.8860, 0.8840 then 0.8765 and stop-loss at four-hour closing above 0.9000