Usd/chf Trade Idea

Chart pattern- triple top

  • USD/CHF has formed triple top almost at 0.9720 and retreating from that level.
  • Intraday trend – Bearish. Further bullishness can be seen only above 0.9720 level. Any break above 0.9720 will target 0.9770/0.9800.
  • On the downside minor support is around 0.9650 and break below will target 0.9595/0.9550 in short term.
  • Overall bullish invalidation only below 0.9552.
  • The minor resistance are 0.9680.

It is good to sell on rallies around 0.9660-62 with SL around 0.9721 for TP of 0.9595/0.9555.

Resistance

R1- 0.9720

R2-0.9770

R3- 0.9800

Support

S1-0.9650

S2-0.9595

S3-0.9550 

The material has been provided by InstaForex Company – www.instaforex.com

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