USD/CHF approaching major resistance, prepare to sell

The price is approaching a major level of resistance at 0.9699 (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance) and we expect to see a major reaction off this level for a drop to at least 0.9589 support (Fibonacci extension, horizontal swing low support).

Stochastic (34,5,3) is seeing major resistance below 97% and we expect a corresponding reaction off that level soon.

Sell below 0.9699. Stop loss is at 0.9732. Take profit is at 0.9589.


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