Supply Zone on USD/CHF

Supply Zone on USD/CHF

The USD/CHF currency pair has become stable after a significant rally over the past month. In the near future, technical correction is not excluded. The demand for safe assets rose amid the escalation of the trade conflict between the US and China. The trading instrument has kept the key supply zone of 1.02100-1.02350 and has been declining. Local support is the level of 1.01600. We recommend paying attention to this situation.

If the price fixes below 1.01600, you should consider selling USD/CHF. The immediate goal for profit taking is the "mirror" support level of 1.01100. The movement is tending to 1.00700-1.00300. When tracking positions, we recommend using a trailing stop.

by JustForex 2019.05.08

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

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