USD/CHF Remains Tightly Range-Bound

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USD/CHF Remains Tightly Range-Bound

ByLCMS Traders FX Analysis Team

 JUN 3, 2021

USD/CHF is once again trading above 0.9000 after making a low of 0.7930 during the last week. The intraday support levels are at 0.8985 and 0.8966. The intraday resistance levels are at 0.9022 and 0.9048.

On the intraday charts, the pair has moved above the SMA-14 which is at 0.8984 while the SMA-50 is still indicating resistance at 0.9134. The current price is near the mid-Bollinger band while the upper and lower band are at 0.9068 and 0.8927. The RSI is at 45 and has an upwards curve. Following the narrow trading range, the pair is currently offering opportunities on both sides. A buy entry is ideal at the following levels.

Direction: Buy

Entry: 0.8980

Take Profit: 0.9030

Stop-Loss: 0.8955

On the flip side, a small rally will favor sell entries at the following levels

Direction: Sell

Entry: 0.9030

Take Profit: 0.8975

Stop-Loss: 0.9055

The pair is consolidating in a narrow trading range (0.8980 – 0.9040) and only a breach above or below these levels would set a clear direction.

 

 

USD/CHF Remains Tightly Range-Bound

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