USD/CHF: Bulls can not pass 0.9800
Tatiana Norkina, an analyst at FBS
New highs above the 98th figure forced market participants to start fixing long positions. For the last day we saw a fall in the value of supporting a four-line Kijun-sen 0.9730. Moreover, the subsequent rebound to the Tenkan-sen has not given the opportunity to resume the uptrend bulls. This may mean that in the near future we should expect consolidation above the upper boundary of Ichimoku cloud.
Note that the oscillators are also headed down sharply, indicating a weakening of bullish interest in the pair.
Trade for this pair is a high-risk.
Technical levels: support - 0.9700, 0.9720; resistance - 0.9760, 0.9790, 0.9840.
1. Buy - 0.9700; SL - 0.9680; TP1 - 0.9760; TP2 - 0.9790.