USD/CHF: bears continue to attack
Tatiana Norkina, FBS analyst
The currency pair has been firmly attached under the four-hour Ichimoku cloud during yesterday’s trade. Senkou Span B formed a powerful resistance in the 0.9670 area, due to which the prices moved down and approached the lows of last week. As a result, this has led to rebuilding of the long-term indicator lines and changed the nature of the cloud to bearish, confirming likelihood of further correction of the pair.
Oscillators are also pointing downwards.
At the same time, there’s a support in 0.9630 area, which is yet unbreakable for the bears. We don’t exclude the possibility of consolidation at current levels during today’s session. A fall to the level of 0.9580 / 90 can be expected in case of breakdown.
Technical levels: support - 0.9580, 0.9630; resistance - 0.9670, 0.9700.
1. Sell - 0.9645; SL - 0.9675; TP1 - 0.9580; TP2 - 0.9550.