The pair USD/CHF has broken down the key support levels of 0.9870 (ЕМА144 on the daily chart), 0.9820 (ЕМА200) and 0.9750 (ЕМА50 on the weekly chart) and goes down to support level of 0.9575 (ЕМА200, ЕМА144 on the weekly chart and bottom line of the descending channel on the weekly chart).
On the daily and weekly and 4-hour charts the indicators OsMA and Stochastic give signals for opening short positions. However, note that on the daily chart Stochastic is in the oversold zone; take profit for short positions can be placed near the levels of 0.9600 and 0.9575. This should be remembers especially at the end of the week. The pair USD/CHF can be “tricky” as SNB can interfere in the sales of franc at any time. Therefore, do not forget to place stop losses.
If the pair USD/CHF rises above the levels of 0.9820 and 0.9870, long positions will be advisable.
Support levels: 0.9665, 0.9600 and 0.9575.
Resistance levels: 0.9750, 0.9820 and 0.9870.
Buy Stop: 0.9810. Stop-Loss: 0.9740. Targets: 0.9870, 0.9910 and 1.0000.
Sell Stop: 0.9650. Stop-Loss: 0.9690. Targets: 0.9600 and 0.9575.