USD/CHF: is it a correction?
Tatyana Norkina, FBS
Tuesday was a bad day for the USD bulls. The 0.9000 figure remains resilient, disappointing the buyers. The yesterday's price drop below the Ichimoku Cloud will pressure the bullish sentiment.
Ichimoku. One could imagine that a decline to 0.8960 is another chance for buying the pair on dips. However, there is another important point to concider – prices moved into the negative territory on the short and long timeframes. There is a high chance for a long-term bearish correction. Get ready to sell the pair.
Technical levels: support – 0.8910 0.8930, 0.8960; resistance – 0.8970, 0.8990, 0.9000.
1. Sell — 0.8960; SL — 0.8980; TP1 — 0.8930; TP2 — 0.8910.