USDCHF near Fibonacci resistance
USDCHF is trading in a higher top higher bottom formation suggesting the trend to be positive in the near term, positive slope of the 20-day SMA supports the above observation. Further it currently stands at the 23.6% Fibonacci support of the rise seen from 6th Jan to 9th March, suggesting a rebound in the offing. It is likely that USDCHF could advance towards 0.9280 and 0.9325 while it sustains above 0.9190.
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Risk Disclaimer:
Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.
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