USDCHF is trading near the periodic level of 0.9550, acting as a support for the current stop. This level can be considered as slightly significant, but creating a slowdown or to return towards recent gap will perfectly fit in. With the current plan, it is possible to assume two variations. First, we see a contraction within 0.9585 / 0.8550, where "bears" will try to rally. The second is that the "bulls" will still succeed after a slight slowdown to work out the level and close the recently opened gap.
Key Levels
Resistance - 0.9700 0.9800;
Support - 0.9550;
Signals
- Buying the pair will remain incline towards the second variation, placing the trade above 0.9590. Breaking the downtrend and focusing on the main trend, where the target is at 0.9640.
- It is recommended to sell the pair after fixing the price below 0.9550, with the target to move near 0.9500 / 0.9450.
Pay attention: Predictions are not a direct guide to action!
