FBS: trade recommendation for USD/CHF
By Tatiana Norkina, FBS analyst
The currency pair updated highs, recovering to the levels around 0.9211. However, the bulls failed to hold at these highs. By evening, the pair dipped to the 0.9190 zone.
Ichimoku indicator. During this corrective decline Tenkan and Kijun formed a Dead Cross on H1, the bearish character of which was confirmed today. In fact, trading has been going on inside the Cloud, which can make the market to correct to 0.9170/0.9175.
On H4 prices are within Tenkan-Kijun channel. Here is also a level of 0.9170, which could become a target for short sellers.
After the end of correction appreciation of the currency pair will likely resume.
Technical levels: support - 0.9170, 0.9185; resistance - 0.9200, 0.9230.
1. Buy - 0.9170; SL - 0.9150; TP1 - 0.9230.