FBS: trade recommendation for USD/CHF
Tatyana Norkina, FBS analyst
The pair consolidates on highs. The yesterday's trade showed that bulls are not ready to push above 0.9380.
Ichimoku. The main reason for that is the overbought market. On the H4 and H1 the indicator lines are headed to the downside. Market is developping a sideways trend. At the same time, on the H4 the prices are supported by the bullish Cloud.
Main support on the H1 is seen at 0.9335. Break to the downside would awake the bears, their target lies at 0.9255.
Technical levels: support – 0.9335; resistance – 0.9355, 0.9380, 0.9400.
1. Buy — 0.9360; SL — 0.9340; TP1 — 0.9380; TP2 — 0.9400.
2. Sell — 0.9330; SL — 0.9350; TP1 — 0.9255.