USDCHF - Weekly Outlook
Selling in front of 0.8800 (stop at 0.8900)
The pair has only posted three weeks of mild net gains in the last 10. This highlights the strength of the decline. Although the selloff has stalled at the 61.8% extension level of 0.8665, this is seen as a mere correction before the next decline. Resistance is located at 0.8805. We look to step inside this upside barrier.
Our profit target is 0.8555 and 0.8310
Resistance: 0.8804 / 0.8888 / 0.9112
Support: 0.8665 / 0.8552 / 0.8308
Selling in front of 0.8800 (stop at 0.8900)
The pair has only posted three weeks of mild net gains in the last 10. This highlights the strength of the decline. Although the selloff has stalled at the 61.8% extension level of 0.8665, this is seen as a mere correction before the next decline. Resistance is located at 0.8805. We look to step inside this upside barrier.
Our profit target is 0.8555 and 0.8310
Resistance: 0.8804 / 0.8888 / 0.9112
Support: 0.8665 / 0.8552 / 0.8308
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