The Swiss Franc is trading at an important support zone (1.0701 – blue line). I like to see the market trading in a little range in the short term charts when it approaches to important long term support or resistance levels… please take a look at the next chart:
Blue line – Long term support zone
Green lines – Short term range
Here is my trading plan for the USDCHF:
If the market breaks the short term resistance up (1.0713) I will start to look for long trading opportunities.
If the market breaks the short term support down (1.0658) I will start to look for short trading opportunities.
I will do nothing if the market stays in the short term range.
Tags: USDCHF analysis