ByLCMS Traders FX Analysis Team
JUN 3, 2021
USD/CHF is once again trading above 0.9000 after making a low of 0.7930 during the last week. The intraday support levels are at 0.8985 and 0.8966. The intraday resistance levels are at 0.9022 and 0.9048.
On the intraday charts, the pair has moved above the SMA-14 which is at 0.8984 while the SMA-50 is still indicating resistance at 0.9134. The current price is near the mid-Bollinger band while the upper and lower band are at 0.9068 and 0.8927. The RSI is at 45 and has an upwards curve. Following the narrow trading range, the pair is currently offering opportunities on both sides. A buy entry is ideal at the following levels.
Direction: Buy
Entry: 0.8980
Take Profit: 0.9030
Stop-Loss: 0.8955
On the flip side, a small rally will favor sell entries at the following levels
Direction: Sell
Entry: 0.9030
Take Profit: 0.8975
Stop-Loss: 0.9055
The pair is consolidating in a narrow trading range (0.8980 – 0.9040) and only a breach above or below these levels would set a clear direction.
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