USDCHF – Daily Forex Technicals by ForexHound.com May9th

USDCHF is trading lower as it broke below 1.05 support level, we are looking forward at the next support zone around 1.0420/30. Once it gets here we will have to see if the pair has enough momentum to push lower or it will once again turn bullish. USDCHF is trading lower as it broke below 1.05 support level, we are looking forward at the next support zone around 1.0420/30. Once it gets here we will have to see if the pair has enough momentum to push lower or it will once again turn bullish.
For this particular short  a stop above 1.05 with a take profit level at 1.043 will offer a decent 1:2 risk:reward ratio.

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