USDCHF - Intraday - We look to Sell at 0.9402 (stop at 0.9422)
Trading close to the psychological 0.9400 level.
Daily signals are mildly bullish.
Bullish divergence can be seen on the daily (the chart makes a lower low while the oscillator makes a higher low), often a signal of exhausted bearish momentum, or at least a correction higher.
A higher correction is expected.
Rallies should be capped by yesterday's high.
Preferred trade is to sell into rallies.
A break of 0.9370 is needed to confirm follow through negative momentum.
Our profit targets will be 0.9341 and 0.9311
Resistance: 0.9400 / 0.9418 / 0.9450
Support: 0.9380 / 0.9350 / 0.9320
Trading close to the psychological 0.9400 level.
Daily signals are mildly bullish.
Bullish divergence can be seen on the daily (the chart makes a lower low while the oscillator makes a higher low), often a signal of exhausted bearish momentum, or at least a correction higher.
A higher correction is expected.
Rallies should be capped by yesterday's high.
Preferred trade is to sell into rallies.
A break of 0.9370 is needed to confirm follow through negative momentum.
Our profit targets will be 0.9341 and 0.9311
Resistance: 0.9400 / 0.9418 / 0.9450
Support: 0.9380 / 0.9350 / 0.9320
