USD/CHF approaching major resistance, prepare to sell

The price has reached our profit target perfectly from Monday. We prepare to sell below major resistance at 0.9770 (Fibonacci extension, horizontal swing high resistance) for a push down to at least 0.9671 support (Fibonacci retracement, horizontal overlap support).

Stochastic (34,5,3) is seeing major resistance below 98% and has reacted very well off it. We expect to see a further drop below this level.

Sell below 0.9770. Stop loss is at 0.9809. Take profit is at 0.9671.


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