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forexTrdr USDCHF- RESISTANCE TO PERSIST?

FX:USDCHF   U.S. Dollar / Swiss Franc
Good morning traders,

Clean setup on US dollar versus Swiss Franc with strong resistance levels keeping this pair in check and forcing it lower towards 100. Our trading view chart has highlighted the key support and resistance levels at play for this pair.

We tested resistance levels again around 1.008 to 1.01 last week before pulling back and we are now looking for the pair to head lower within the range band down to low 1.00 before breaking out sub 1.00.

On top of price action we have RSI finding resistance to moving higher and Stochastic turning lower pointing to a near term move lower. All of this adds as a back up to our view that safe havens are likely to remain bid over the coming weeks as China and US trade talks show no sign of a near term positive outcome.

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Good luck trading

from the Team at forexTrdr



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