Facts:
USDCHF rebounded from the key resistance at 0.7860
The pair sits below 100-period moving average
Recommendation:
Trade: Short position on USDCHF at market price
Target: 0.7620, 0.7530
Stop: 0.7922
Opinion: USDCHF has been trading in a long – term downward trend from January 2025. Looking at the D1 interval, one can see that the price pulled back from the resistance area at 0.7860, and bearish candlestick patterns were painted up. The aforementioned resistance area is a result of precious price reaction, 50% Fibonacci retracement and the 100 -period moving average. In addition, an observed upward correction move looks like abc correction and may herald a resumption of a downward move. We recommend going short USDCHF at market price with two targets: 0.7620 and 0.7530 We recommend placing a stop loss order at 0.7922. Source: xStation5
