Downside target for USD/CAD
USD/CAD has made an immense move to the downside on Tuesday falling by about 200 pips.
USD/CHF can go lower
Trade idea
SELL 1.0000; TP 0.9955; SL 1.0015
USD/CHF is indecisive between 1.0025 and 0.9985, where it consolidated for 2 days. Still, it looks like the downtrend from last week’s highs is about to continue. If the pair breaks below the wedge seen on H4 and fall below the parity level, it will slide to 0.9985 and then be vulnerable to decline to 0.9955 (38.2% Fibo of the January-February advance, 100-day MA). On the upside, the advance above 1.0025 is needed to bring the pair up to 1.0050.
Elizabeth Belugina
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