Recently, the EUR/CHF pair has been trading upwards. The price tested the level of 1.1971. Anyway, according to the 30M time – frame, I found a potential end of the upward corrective structure, which is a sign that buying looks very risky. I also found a hidden bearish divergence on the MACD oscillator in the background, which is another sign of weakness. My advice is to watch for potential selling opportunities if you see a valid breakout of upward trendline. The downward target is set at the price of 1.1870.
Resistance levels:
R1: 1.1957
R2: 1.1960
R3: 1.1976
Support levels:
S1: 1.1948
S2: 1.1942
S3: 1.1939
Trading recommendations for today: watch for potential selling opportunities.
The material has been provided by InstaForex Company - www.instaforex.com