USD/CHF reversing perfectly as expected, remain bearish

Price has risen to our selling area and reversed perfectly as expected. We remain bearish below resistance at 0.9675 (Fibonacci extension, Fibonacci retracement, horizontal swing high resistance) and we expect to see a strong reaction from this level to push price down to at least 0.9578 support (Fibonacci retracement, horizontal overlap support).

Stochastic (34,3,1) is dropping really nicely from our 100% resistance fuelled by the bearish divergence vs price.

Sell below 0.9675. Stop loss at 0.9708. Take profit at 0.9578.


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