Recently, the EUR/CHF pair has been trading downwards. As I expected, the price tested the level of 1.1924. According to the H1 time – frame, I found a broken upward trendline, which is a sign that buying looks risky. I also found confirmed hidden bearish divergence on the MACD oscillator, which is another sign of weakness. My advice is to watch for potential selling opportunities. The downward target is set at the price of 1.1870.
Resistance levels:
R1: 1.1970
R2: 1.2005
R3: 1.2025
Support levels:
S1: 1.1915
S2: 1.1895
S3: 1.1860
Trading recommendations for today: watch for potential selling opportunities.
