USDCHF for the past few days have been on a strong rally especially from the last NFP reports which was on Friday 6/8. Price broke through all the resistance levels until this point 0.92311, this point seem like a strong NO! Zone for the bulls. This current zone is made up of both resistance and supply zone, therefore I would be expecting price to dip to FIB 50 level 0.9128. A break above this zone would most likely lead price to 0.9273.
I have a short term sell bias from this zone, but if the bull get stronger, I would wait to see how thing unfolds around 0.92773.
Disclaimer: What I have shared above is not a financial or investment advice, it’s an opinion that could be helpful for educational purposes only, whatever trading decision you make is at your own risk.
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