USDCHF - Over extended. Rallies to be sold
USDCHF - Intraday - We look to Sell at 0.9938 (stop at 0.9968)
Continued downward momentum from 1.0023 resulted in the pair posting net daily losses yesterday. We are trading at oversold extremes. Buying posted in Asia. The medium term bias remains bearish. Bespoke resistance is located at 0.9940. The 50% Fibonacci retracement is located at 0.9940 from 1.0023 to 0.9857.
Our profit targets will be 0.9800 and 0.9780
Resistance: 0.9940 / 0.9958 / 1.000
Support: 0.9857 / 0.9794 / 0.9770
Continued downward momentum from 1.0023 resulted in the pair posting net daily losses yesterday. We are trading at oversold extremes. Buying posted in Asia. The medium term bias remains bearish. Bespoke resistance is located at 0.9940. The 50% Fibonacci retracement is located at 0.9940 from 1.0023 to 0.9857.
Our profit targets will be 0.9800 and 0.9780
Resistance: 0.9940 / 0.9958 / 1.000
Support: 0.9857 / 0.9794 / 0.9770
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