USD/CHF: Possible upside correction

Pair has gapped as all European currencies at the open, having reached
an intraday low around strong midterm 1.0550 support; 4 hours charts
show extreme reading in technical indicators, aiming for an upside
corrective movement, that needs to move above 1.0620 to start: if above
that level, pair should attempt to extend the upside to fill the gap
and reach the 1.0660 level. Behavior around this last will be key as if
pair breaks above, bearish momentum likely to confirm exhaustion while
if the pair retreats from that area, will be confirming another bearish
run ahead.

Only a break under 1.0550 low will signal further falls today, and send the pair to test the 1.0510/20 zone.


Views: 40


You need to be a member of Forex Social Network to add comments!


© 2020   Created by FXStreet.   Powered by

Badges  |  Report an Issue  |  Terms of Service