Control zones for USD/CHF on 04/22/20

The pair continues to form an upward pattern. The target for growth remains at the weekly control zone 1/2 0.9777-0.9759. Upon reaching this zone, it is necessary to close part of the purchases and monitor the formation of a sell pattern. So far, sales remain a priority in the medium-term, since the downward pattern is not complete.

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The upward movement of the last three days indicates a strong resistance. Each new point of growth is given with great difficulty. This increases the probability of rapid movement in the coming days.

An alternative pattern for resuming the decline will be developed if the closing of today's trading occurs below yesterday's opening. This will allow you to form an "absorption" pattern at the daily level. The target of the decline will be the WCZ 0.9461-0.9429. It can be noted that the bearish movement is still a priority in the medium-term, thus, it is necessary to pay attention to the patterns that are formed in the direction of strengthening the franc.

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Daily CZ - daily control zone. The zone formed by important data from the futures market that changes several times a year.

Weekly CZ - weekly control zone. The zone formed by the important marks of the futures market, which change several times a year.

Monthly CZ - monthly control zone. The zone that reflects the average volatility over the past year.

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