Overview:
- The USD/CHF pair faced strong resistance at 1.0252. This level is expected to act as major support today. From this point of view, we expect the pair to continue moving in a bearish trend from the resistance levels of 1.0200 and 1.0252. Currently, the price is moving in a bullish channel. This is confirmed by the RSI indicator signaling that we are still in the bearish market. Besides, the trend is still showing strength below the moving average (100). Moreover, if the pair fails to pass through the level of 1.0200, the market will indicate a bearish opportunity below the first resistance level of 1.0200. Thus, the market is indicating a bearish opportunity below 1.0200 -1.0252 for that it will be good to sell at 1.0200 with the first target of 1.0042. It will also call for a downtrend in order to continue towards 0.9948. The daily strong support is seen at 0.9948. Don't forget to set your stop loss at the level of 1.0252.
