Overview :
- The major support of the USD/CHF pair has already set at the level of 0.9560 and minor support sets at 0.9604. Equally important, the 0.9604 price coincides with the ratio of 38.2% Fibonacci retracement levels. On the other hand, the double top has placed at the point of 0.9730; and the first resistance is seen at 0.9700. Additionally, according to the previous events, the price will move between 0.9690 and 0.9604. In addition, the range will be around 90 pips today. Also, It should be noted that the trend is descending from the resistance level of 0.9700. Therefore, strong resistance will be formed at the level of 0.9700 providing a clear signal for sell deals with the targets seen at 0.9650 and it might resume to 0.9607 if the trend will be able to break the first target. Anywise, stop loss should never exceed your maximum exposure amounts, for that the stop loss should be placed above the double top at the 0.9745 level.
The material has been provided by InstaForex Company - www.instaforex.com
