Chart Art: Short-Term Trend Plays on USD/CHF
USD/CHF is consolidating below the .9200 zone, which makes sense because the area sits near a descending channel resistance as well as the 100 SMA on the 1-hour time frame.
And if that’s not enough to get you excited, you should also know that there’s a bearish divergence on the chart.
Is USD/CHF a buy or a sell?
Dollar bears can short at current levels and aim for the channel’s support levels for a good risk ratio.
Meanwhile, bulls can wait for a clear break above the 100 SMA before targeting key inflection points closer to the .9230 or .9300 areas of interest.
And if that’s not enough to get you excited, you should also know that there’s a bearish divergence on the chart.
Is USD/CHF a buy or a sell?
Dollar bears can short at current levels and aim for the channel’s support levels for a good risk ratio.
Meanwhile, bulls can wait for a clear break above the 100 SMA before targeting key inflection points closer to the .9230 or .9300 areas of interest.
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