FBS - Analytics

    FBS

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    USD/CHF: sell target - 0.9900

    • USD/CHF reversed from strong resistance zone
    • Next sell target - 0.9900

    USD/CHF has been falling strongly in the last few trading sessions – following the earlier downward reversal from the resistance zone surrounding the major, long-term resistance level 1.0200 (which previously reversed the price sharply at the start of 2015 and also in November of 2015, as you can see from the weekly USD/CHF chart below). If the price closes this week near the current levels – it will form the 3rd consecutive weekly reversal pattern Bearish Engulfing.

     USD/CHF is currently approaching the parity. If the pair breaks below the parity - USD/CHF will then, most likely, fall to the next sell target at the support level 0.9900.


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