USD/CHF after the breakdown

USD/CHF after the breakdown

Trade idea

SELL 0.9920; TP1 0.9895; TP2 0.8950; SL 0.9935

Last week USD/CHF broke below the uptrend support line of 2018. It’s now providing resistance for the price at 0.9965. Another obstacle on the upside is in the form of the 50-week MA at 0.9950. Finally, the psychological parity level of 1.00 is also now a resistance.

The USD recovered this week, but if American retail sales figures due at 15:30 MT time disappoint, USD/CHF will turn back down. The target will be at 0.9895 (March low). The major support is at 0.9845 (200-week MA). Only above 0.9970 the USD will have a chance to rise to 1.00 and 1.0035.

usdchf 1406.png

Similar

Levels to trade EUR/USD

The price action in EUR/USD has been quite unfavorable for the euro. On The W1, the 50-week MA limited the pair’s advance.

AUD/JPY looks exposed

AUD/JPY formed a “shooting star” candlestickon the W1. This week, it’s testing levels below the 50-week MA at 75.45.

Latest news

Levels to trade EUR/USD

The price action in EUR/USD has been quite unfavorable for the euro. On The W1, the 50-week MA limited the pair’s advance.

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