USD/CHF looks heavy despite relentless USD strength
The Swiss franc has held up remarkably well this week despite some of the G10 FX moves against the USD.
Sitting in a rising wedge, it was rejected at uptrend resistance on Wednesday, deliver an inverse candle on the daily. The price now finds itself resting on uptrend support and looks heavy. RSI (14) has diverged from price but the bearish signal on momentum has yet to be confirmed by MACD, although the latter also looks toppy.
One short setup would be to sell now or on a break of the uptrend with a stop above Wednesday’s high for protection against reversal. The initial target would be .8617 although, to make the risk-reward stack up, it would be preferable to target the 50-day moving average.
Good luck!
DS
Sitting in a rising wedge, it was rejected at uptrend resistance on Wednesday, deliver an inverse candle on the daily. The price now finds itself resting on uptrend support and looks heavy. RSI (14) has diverged from price but the bearish signal on momentum has yet to be confirmed by MACD, although the latter also looks toppy.
One short setup would be to sell now or on a break of the uptrend with a stop above Wednesday’s high for protection against reversal. The initial target would be .8617 although, to make the risk-reward stack up, it would be preferable to target the 50-day moving average.
Good luck!
DS
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.