DIVERGENCE ON USD/CHF

The current technical pattern signals a possible correction of the USD/CHF (FXF) currency pair after a prolonged fall. A classic reversal formation, the divergence of price and the MACD histogram (H4 timeframe), has been formed in the trading instrument.

At the moment, USD/CHF quotes are stable. The 0.9185 level is the nearest resistance. We recommend paying attention to this situation.

If the price fixes above 0.9185, the USD/CHF currency pair is expected to grow. The nearest goal for profit-taking is 0.9240. The movement is tending to 0.9345-0.9390. Confirmations and market entry points should be looked for on lower timeframes. When following positions, we recommend using a trailing stop.