ByLCMS Traders FX Analysis Team
AUG 17, 2021
USD/CHF Daily Forecast
USD/CHF is extending the downside after hitting a recent high of 0.9242. Currently, the pair is trading at 0.91058 and appears to be heading further lower. The intraday support levels are at 0.9100 and 0.9068. The near-term resistance areas are at 0.9122 and 0.9153.
On the intraday charts, the pair is keeping below the moving average, the SMA-14 is at 0.9123 and the SMA-50 is at 0.9143. The mid-Bollinger band is at 0.9133 while the upper and lower bands are at 0.9258 and 0.9000 respectively. The RSI is at 45 and favors the bears. The current intraday and 4-hourly price pattern is strongly bearish and the downside is likely to be extended which favors selling entries using the following levels.
Direction: Sell
Entry: 0.9115
Take Profit: 0.9075
Stop-Loss: 0.9145
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