- According to the previous events, the USD/CHF pair is still moving between 0.9315 and 0.9471.
- So, the resistance is at the level of 0.9471 and support was found at the point of 0.9315.
Sell below 0.9471 with the first target at 0.9395, then it will call for a downtrend in order to continue its bearish movement towards 0.9320 in order to test this strong support.
- The level of 0.9315 is going to form the double bottom).
- At the same time, the stop loss should be placed at the level of 00.9582.
- On the other hand, if the trend fails to close below the level of 0.9395, buy in the long term at 0.9400 with a target at 0.9452 and at 0.9471 later.
The material has been provided by InstaForex Company – www.instaforex.com