The USD/CHF has completed a 3 wave rally finding resistance at the 0.9002 psychological level and the upper channel line, high volume can also be seen at the top of the market which may indicates selling. Expecting prices fall to around 0.8925- 0.8918 region indicated by the red rectangle, before retesting 0.895.
USD/CHF 1Hr
On the 1 hour chart there is vivid RSI divergence along with the completion of a 5 wave rally signifying the potential end of the up move.
- Resistance: If prices manage to penetrate 0.9002 level, a test of the 0.9035 is expected.
- Support: The first major support is at 0.8897 followed by 0.8854.
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