Overview:
USD/CHF: It should be noted that the price has still been trapped between 0.9200 and 0.9250 and the price has been set below strong resistance at the level of 0.9285 (23.8% of Fibonacci retracement levels in H4 chart). Moreover, it is worth noting that these levels are coinciding between 23.6% and 00% of Fibonacci retracement levels in H4 chart and the pair has already formed strong resistance at this level of 0.9285 and it is now approaching it in order to test it. Therefore, the Swissy's downside momentum is rather convincing and the structure of the fall does not look corrective. In order to indicate bearish opportunity below 0.9285 it will be a good sign to sell below 0.9300 with the first target of 0.9200 and it will call for downtrend in order to continue the bearish movement towards 0.9131 in order to form a double bottom at the level of 0.9131. Furthermore, it should be noted that the price of 0.9130 will possibly form strong support (00% of Fibonacci retracement levels in H4 chart). So it will be saturation around 1.9130 to rebound the pair, as well probably the market is going to start showing the signs of bullish market. In other words, it will be a good sign to buy above 0.9130 with the first target of 0.9200 and continue towards 0.9255.
