Bearish scenario: Shorts below 18100 with TP1: 17900... Anticipated bullish scenario: Intraday Longs above 18130 with TP...
USD/CHF still favored by the bulls
2019-11-11 • Updated
USD/CHF is waiting for a fresh bullish catalyst that trigger buy orders at the current stage, as it’s hovering very close to the Fibonacci level of 50% at 0.9540, where a rebound happened on Tuesday’s session. If the pair manages to break above the 200 SMA at H1 chart, then the focus should be placed at the Fibonacci area of -23.6% at 0.9699. However, if the support level of 0.9508 gives up, then it might plummet towards the 0.9432 level.
RSI indicator remains slightly in the positive territory.
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Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...