USD/CHF forms Bullish Cypher Pattern, good to sell on rallies
Harmonic pattern- Bullish Cypher Pattern
Potential Reversal Zone -1.0280 (161.8% retracement of 1.0220 and 1.0219)
USD/CHF has made a high of 1.02260 and slightly retreated from that level.
Intraday support is around 1.01680 (trend line joining 0.9980 and 1.01219 and also cloud bottom) and break below 1.0168 will drag the pair till 1.0120 (200 day HMA)/1.0050/1.00365
Major resistance is around 1.0230 and break above targets 1.0280.
It is good to sell on rallies around 1.0215-220 with SL around 1.0280 for the TP of 1.0120/1.0050.
Potential Reversal Zone -1.0280 (161.8% retracement of 1.0220 and 1.0219)
USD/CHF has made a high of 1.02260 and slightly retreated from that level.
Intraday support is around 1.01680 (trend line joining 0.9980 and 1.01219 and also cloud bottom) and break below 1.0168 will drag the pair till 1.0120 (200 day HMA)/1.0050/1.00365
Major resistance is around 1.0230 and break above targets 1.0280.
It is good to sell on rallies around 1.0215-220 with SL around 1.0280 for the TP of 1.0120/1.0050.