USD/CHF – 30M – SELLThe currency pair moves from the ascending trendline down.
A bearish trend downwards to the next support at 0.84997 will persist.
Caution: A possible counter-trend in the direction of resistance at 0.85977 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bullish trend broke the Fibonacci 0.24-Level.Continuation of the current descending trend will persist. Target of the current trend is 0.854885 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of the support level at 0.85977 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.86633 |
| 2nd High | 0.86076 |
| Next High | 0.85977 |
| Current Price | 0.85721 |
| Next Low | 0.84997 |
| 2nd Low | 0.84901 |
| 3rd Low | 0.84484 |