FxWirePro: Buy USD/CHF above 0.9432, up trend to continue further

• USD/CHF pair is set continue its bullish bias in the short run. The pair is moving upwards to test resistance level at 0.9468.

• The pair is currently trading around 0.9459, it is expected to advance further towards 0.9490 and later 0.9540 handle in the short term. The Swiss Franc is broadly weaker against the dollar in the short term, due to US dollar demand as safe heaven amid Greece crisis.

• Major resistance is seen at 0.9468 (38.2% Retracement Level), a break above this level will open the door to 0.9507 level. To the downside, immediate support can be seen at 0.9435 a break below this level will expose the cable to 0.9404 (61.8% Retracement Level).

Recommendation: We prefer long above 0.9435 with targets 0.9460 & 0.9500, SL 0.9270

Resistance Levels

R1: 0.9468(38.2% Retracement Level)    

R2: 0.9507

R3: 0.9530

Support Levels

S1:0.9435                                            

S2:0.9404 (61.8% Retracement Level)

S3:0.9390