Technical Talk: USD/CHF 24-10-2019

USD/CHF- Murrey Math Lines
Our preference: long positions above 0.9890 with targets at 0.9920 & 0.9935 in extension.Alternative scenario: below 0.9890 look for further downside with 0.9880 & 0.9870 as targets.

Comment:
SD/CHF, “US Dollar vs Swiss Franc”
As we can see in the H4 chart, USDCHF is consolidating between 5/8 and 3/8. In this case, the price is expected to test 5/8, rebound from it, and then resume falling to reach the support at 3/8. However,
this scenario may no longer be valid if the price breaks 5/8 to the upside. After that, the instrument may continue growing towards 6/8.

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