USD/CHF Intraday Signal: Caution Below 0.7970
Analysis:
USD/CHF trades with a cautious bearish intraday tone while remaining below the pivot level at 0.7970. Sellers retain a slight edge, targeting 0.7940 and 0.7920 in extension. However, price action lacks strong directional conviction, suggesting choppy movement may persist near current levels.
Intraday technical indicators are mixed, which calls for prudence. While resistance at 0.7970 continues to cap upside attempts, momentum signals do not yet confirm an aggressive downside move. A clear break below 0.7940 would strengthen bearish continuation toward 0.7920.
Alternatively, a move above 0.7970 would invalidate the bearish setup and expose 0.7985 and 0.8000 as the next upside targets.
Trade Setup:
Enter: Short below 0.7970
Stop-Loss (SL): 0.7985
Target A: 0.7940
Target B: 0.7920