USD/CHF is expected to trade with a bearish outlook. The pair remains under pressure below the nearest resistance at 0.9465, which is expected to limit any upside room. The relative strength index is mixed to bearish, and also lacks upward momentum. To sum up, as long as 0.9590 is not surpassed, likely decline to 0.9505 and 0.9475 in extension.
Chart Explanation: The black line shows the pivot point. The present price above the pivot point indicates a bullish position, and the price below the pivot point indicates a short position. The red lines show the support levels, and the green line indicates the resistance levels. These levels can be used to enter and exit trades.
Strategy: SELL, stop loss at 0.9590, take profit at 0.9505.
Resistance levels: 0.9610, 0.9635, and 0.9665
Support levels: 0.9505, 0.9475, and 0.9420.
The material has been provided by InstaForex Company - www.instaforex.com
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