FBS: trade signal for USD/CHF
Tatyana Norkina, FBS analyst
The currency pair remains in a sideways range. The fourth consecutive trading session goes on in the 0.8970-0.8990 range.
Ichimoku. The current range can be clearly seen on the H4 timeframe. On the hourly chart the pair is supported by Senkou Span A. Bulls could have tried to break the range to the upside, but they remain contained by the overbought market conditions (H4). That's why, despite the bullsih Ichimoku sentiment, in the near term we see a high chance of a decline to 0.8945. However, in the very near future we expect the market to push to 0.9000.
Technical levels: support – 0.8945, 0.8970; resistance – 0.8990, 0.9010.
1. Sell — 0.9000; SL — 0.9020; TP1 — 0.8945; TP2 — 0.8930.