On the weekly chart USDCHF is in a zone of resistance – between horizontal and diagonal resistances. Pair is suitable for a short position with entry around 0.98 – 0.986.
4H chart is signaling buyer’s exhaustion and potential short-term correction – regular RSI bear divergence.
Our expectations are for a short-term rebound and correction to test the support around 0.944 – 0.952. If support is found, we can expect a bounce and a break of the resistance, targeting the range highs – 1.0245 1.0345.
Junior Trader Radi Djuma