Currency pair USD/CHF, technical analysis. The basis of the trading strategy includes support and resistance levels, RSI and AO indicators.
As I suspected, the pair tested the support level, then tried to reach the resistance level but failed. Currently, the pair is attempting to test the support level again. Now let's see what the indicators say about the situation for the next day. The pair descended nicely, easily hit the target, and reversed. On the chart, it is visible that the pair tested the level of 0.7905 and is currently trading at a price of 0.7879. RSI is moving in the middle of the range and looking down hesitantly, AO is showing a weak buy signal, and the price of the USD/CHF pair is below the trading range of the previous day. The signals are not very strong, but there is a possibility of a slight decrease. Therefore, a movement towards the support level of 0.7850 can be assumed. Based on the analysis, cautious selling is recommended with a target of 0.7855. However, remember that the market can be subject to sudden changes, so carefully assess your risks.
