USD/CHF approaching major resistance, prepare to sell

The price is approaching major resistance at 0.9591 (Multiple Fibonacci retracements, horizontal overlap resistance) and we expect a strong reaction off this level for a push down to at least 0.9490 support (Fibonacci retracement, horizontal support).

Stochastic (34,5,3) is seeing major resistance at 97% where we expect a corresponding reaction similar to the one we're expecting on price.

Sell below 0.9591. Stop loss is at 0.9629. Take profit is at 0.9490.


The material has been provided by InstaForex Company -