USD/CHF analysis for February 14, 2019

analytics5c655fb64a5e1.png

USD/CAD has been trading upwards. The price tested the level of $1.3272. Anyway, according to the H1 time – frame, I have found that price rejected from the important resistance level at 1.3265. I also found potential end of the upward correction and finished bearish flag pattern, which is a sign that buying USD/CAD at this stage looks risky. The key intraday support is set at 1.3230.

R1: 1.3290

R2: 1.3320

R3: 1.3370

Pivot: 1.3240

S1: 1.3213

S2: 1.3165

S3: 1.3135

Trading recommendation: We are bearish intraday from 1.3258 and protective stop at 1.3275. We are targeting levels at 1.3230 and 1.3200.

The material has been provided by InstaForex Company - www.instaforex.com