USD/CHF forms Bullish Cypher Pattern, good to sell on rallies

FX:USDCHF   U.S. Dollar / Swiss Franc
Harmonic pattern- Bullish Cypher Pattern

Potential Reversal Zone -1.0280 (161.8% retracement of 1.0220 and 1.0219)

USD/CHF has made a high of 1.02260 and slightly retreated from that level.

Intraday support is around 1.01680 ( trend line joining 0.9980 and 1.01219 and also cloud bottom) and break below 1.0168 will drag the pair till 1.0120 (200 day HMA )/1.0050/1.00365

Major resistance is around 1.0230 and break above targets 1.0280.

It is good to sell on rallies around 1.0215-220 with SL around 1.0280 for the TP of 1.0120/1.0050.


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