The USD/CHF currency pair is currently exhibiting a bearish sentiment, as evidenced by the loss of the longer-term prevailing uptrend. The key trading level to watch is 0.8865, which represents the current intraday swing low and the falling resistance trendline level.
Bearish Scenario:
If the price fails to break above the 0.8865 level and faces a bearish rejection, it could trigger a downside move targeting the support levels at:
0.8735 - Initial downside support
0.8700 - Secondary support level
0.8600 - Longer-term support
Bullish Scenario:
Alternatively, a confirmed breakout above the 0.8865 resistance level, followed by a daily close above that point, would negate the bearish outlook. This scenario could open the path for further rallies, targeting:
0.8918 - Immediate resistance level
0.8965 - Next potential resistance level
Conclusion:
Traders should closely monitor the 0.8865 level for directional clues. A rejection from this level would favor short positions targeting lower support zones, while a breakout and daily close above would support long positions aiming for higher resistance levels. Proper risk management and trend confirmation are crucial for successful trading in this volatile environment.
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
Bearish Scenario:
If the price fails to break above the 0.8865 level and faces a bearish rejection, it could trigger a downside move targeting the support levels at:
0.8735 - Initial downside support
0.8700 - Secondary support level
0.8600 - Longer-term support
Bullish Scenario:
Alternatively, a confirmed breakout above the 0.8865 resistance level, followed by a daily close above that point, would negate the bearish outlook. This scenario could open the path for further rallies, targeting:
0.8918 - Immediate resistance level
0.8965 - Next potential resistance level
Conclusion:
Traders should closely monitor the 0.8865 level for directional clues. A rejection from this level would favor short positions targeting lower support zones, while a breakout and daily close above would support long positions aiming for higher resistance levels. Proper risk management and trend confirmation are crucial for successful trading in this volatile environment.
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.