Retest of "Mirror" Resistance on USD/CHF

Retest of Mirror Resistance on USD/CHF

The bearish sentiment is prevailing on the USD/CHF currency pair. The trading instrument has updated key lows. The current technical pattern signals a further drop in quotes. At the moment, the USD/CHF currency pair is consolidating near the "mirror" resistance level of 0.99650. Local support is the mark of 0.99300. We recommend paying attention to this situation.

If the price fixes below the support level of 0.99300, the USD/CHF quotes are expected to fall. The immediate goal for profit taking is the mark of 0.98900. In the medium term, the USD/CHF currency pair may reach 0.98400-0.98000. Confirmations and entry points to the market should be looked for on lower timeframes. When tracking positions, we recommend using a trailing stop.

by JustForex 2019.04.01

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

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