USD/CHF: Correction is possible
Tatiana Norkina, FBS analyst
The recent formation of new extrema led to a currency pair overbought, which eventually forced the short-term players to start profit fixing. As a result, the pair is recently consolidating near Tenkan and Kijun above 1.0130 support.
Corrective decline in prices, which may occur in the coming days, is confirmed by the testimony of the oscillators. Thus, the MACD histogram is getting closer to zero, and the RSI - by the middle of the range.
Also in favor of strengthening the short-term bearish sentiment speaks the suspension of the gold cross.
Obviously, prices fixation below Tenkan and Kijun will cause the market to fall to the upper border of the Ichimoku cloud.
Technical levels: support - 1.0130; resistance - 1.0160.
1. Sell - 1.0130; SL - 1.0160; TP1 - 1.0060; TP2 - 1.0010.