ByLCMS Traders FX Analysis Team
AUG 5, 2021
USD/CHF Daily Forecast
USD/CHF closed higher at 0.9076 yesterday after making a low of 0.9016. Currently, the pair is trading 0.05% lower to 0.9060 with immediate support levels at 0.9044 and 0.9023. The intraday resistance levels are at 0.9085 and 0.9118.
Despite yesterday’s recovery, the intraday price pattern is still bearish with moving averages indicating a bearish crossover that might help bears once again drag the price lower. The RSI is at 40 and the MACD is indicating a bearish trajectory as well. Considering the intraday price pattern and taking into yesterday’s corrective move the pair is ideal for sell entries using the following levels
Direction: Sell
Entry: 0.9080
Take Profit: 0.9025
Stop-Loss: 0.9115
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