USD/CHF is capped by resistance

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Trade idea

SELL 1.0040; TP 1.0010; SL 1.0055

USD/CHF may test lower levels this week as long as it keeps trading below the resistance at 1.01 (last week’s highs). The first downside target lies at the parity level (1.00). If this support is lost, we’ll see a deeper selloff. A doji with a long upper wick was formed on D1 on Friday — a negative sign. On H4, we see a lower high and the decline below 50-period MA.

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FBS Analyst Team

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