The USD lost strength against major currencies on Monday, June 3. Most pairs are targeting key areas at present. High momentum will be required to break out of these zones, otherwise price is expected to bounce off these upcoming zones.
The USD/CHF pair is currently trapped between Resistance and Support:
Resistace at 0.9560 - 95270
Support at 0.94813 - 0.94570
The Asian session opened with a corrective move for the USD/CHF. The pair is expected to bounce off the upper resistance and target the support zone. Considering the overall outlook for USD/CHF, remain bullish as the Ascending channel remains intact.
The current price offers a nice Intraday counter trend. Short the opportunity at bounce from Resistance.
Best
-Sardar Uddin
TradeCuts
www.tradecuts.com