USD/CHF is testing lows

USD/CHF is testing lows

2019-11-11 • Updated

Trade idea

SELL 0.9675; TP1 0.9650; TP2 0.9600; SL 0.9690

USD/CHF fell to the lowest levels in almost a year. The pair slid below the June low at 0.9695. The weekly pivot is at 0.9752 and it implies that bears are in control of the market. The 100-day MA is about to cross the 200-day MA to the downside. Yesterday USD/CHF closed below the 50% retracement of the 2018-2019 advance at 0.9710. There’s scope for further declines within the downtrend channel. The downside targets include 0.9650 and 0.9590.

USDCHF.png

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