Fxstreet.com (Barcelona) – After rising during the Asian session from 1.0670 to the intra-day high at 1.0733, USD/CHF has fallen around 80 pips to trade below 1.0700 level and test the 1.0650/60 tough zone. Currently the pair is trading around 1.0665/75, easing initial losses and posting 0.15% daily losses from opening price action.
Rajoo C, analyst at Precise Trader, comments: “The Hourly Oscillators are Oversold and the price is Below the MA, so CAUTIOUS approach is needed for the Bears. Hourly Trend is Sideways while 10815 holds and Daily Trend is also Sideways while 10585 holds, so expect the price to be Choppy until the breakout happens. The patterns on the Hourly is giving a price projection of 10610 level, on the 5 min is choppy but the bears ensure that the price doesn't go above 10735-10815. Conservative traders should be Sidelined or strictly trade only at Precise Traders Report levels. Aggressive traders should do the same until the breakout happens.”
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