USD/CHF: technical analysis 12.06.2019
The USDCHF pair begins today’s trading with slight bearish bias. The price is approaching a strong support in the region of 0.9913 (middle line of Bollinger Bands). There is a chance of an upward rebound, while its breakdown would allow the fall to continue to the level of 0.9887 (Murray [0/8]). Should prices continue slipping under 0.9887, the levels of 0.9857-0.9826 might try activating a upward rebound. The upward trend will be restored after the price is set above the level of 0.9948 (Murray [2/8]). In this case, the next targets of buyers will be the level of 0.9979 (Murray [3/8]). The technical picture is mixed. Bollinger Bands are pointed sideways. MACD volumes are decreasing in the negative zone. Stochastic is pointed downwards.
Support and resistance
Support levels: 0.9887, 0.9857, 0.9826.
Resistance levels: 0.9918, 0.9948, 0.9979.
Long positions can be opened above the level of 0.9948 with the target at around 0.9979 and stop-loss 0.9938.
Short positions can be opened below the level of 0.9887 with the target at around 0.9857 and stop-loss 0.9897.