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Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

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USD/CHF testing major resistance, prepare to sell

The price is testing major resistance at 0.9446 (Multiple Fibonacci retracements, horizontal pullback resistance, bearish ichimoku cloud) and we expect a strong reaction from here for the price to drop further to 0.9264 support (Fibonacci extension, horizontal swing low support).

Stochastic (34,5,3) is seeing major resistance below 98% where a corresponding reaction could occur.

Sell below 0.9446. Stop loss at 0.9572. Take profit at 0.9264.

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