USD/CHF forming a nice reversal, remain bearish

Price has started to form a really nice reversal signal. We remain bearish looking to sell below major resistance at 0.9582 (Fibonacci retracement, horizontal overlap resistance, bearish divergence) for a push down to at least 0.9483 support (Fibonacci extension, horizontal swing low support).

Stochastic (34,3,1) is seeing strong resistance below 100% and we expect a corresponding drop from that level similar to the one we're expecting on price. We can also see bearish divergence vs price signalling that a reversal is impending.

Sell below 0.9582. Stop loss at 0.9625. Take profit at 0.9483.


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