USD/CHF Mid-Day Outlook

24 Sep 2020, 18:40 · Views 403

Daily Pivots: (S1) 0.9154; (P) 0.9181; (R1) 0.9225;

Intraday bias in USD/CHF remains on the upside at this point. Rebound from 0.8998 short term bottom is in progress for 38.2% retracement of 0.9901 to 0.8998 at 0.9343. On the downside, break of 0.9051 support is needed to confirm completion of the rebound. Otherwise, further rise will remain in favor in case of retreat.

In the bigger picture, decline from 1.0237 is seen as the third leg of the pattern from 1.0342 (2016 low), which is still extending. Sustained trading below 100% projection of 1.0342 to 0.9186 from 1.0237 at 0.9081 will pave the way to 138.2% projection at 0.8639. On the upside, break of 0.9376 resistance is needed to be the first sign of medium term bottoming.

Reprinted from ActionForex，the copyright all reserved by the original author.

Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.

FOLLOWME Trading Community Website: https://www.followme.com

If you like, reward to support.

USD/CHF Mid-Day Outlook

Hot

Content related