- USD/CHF is fast approaching near resistance at 0.9307 (61.8% Retracement level). The currency is trading at 0.9302.
- Major resistance is seen at 0.9307, a break above this level will open the door to 0.9345 level. To the downside, immediate support can be seen at 0.9282 break below this level will expose the cable to 0.9254 level.
- Later in the day, the US Q1 GDP (Gross Domestic Product) and GDP Price Index (QoQ) is set to released at 08:30 (GMT).Therefore medium volatility is expected in the market.
Recommendation: We prefer long above 0.9282 with targets 0.9350 & 0.9380, SL 0.9240
Resistance Levels
R1: 0.9365 (38.2.% Retracement Level)
R2: 0.9416 (23.6% Retracement Level)
R3: 0.9455
Support Levels
S1:0.9282(61.8% Retracement Level of 0.9148 to 0.9500)
S2:0.9254
S3:0.9193
