FxWirePro: Buy USD/CHF above 0.9450, 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 0.9497.

• The pair is currently trading around 0.9488, it is expected to advance further towards 0.9520 and later 0.9580 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 0.9517, a break above this level will open the door to 0.9540 level. To the downside, immediate support can be seen at 0.9468, a break below this level will expose the cable to 0.9450 (61.8% Retracement Level).

Recommendation: We prefer long above 0.9450 with targets 0.9490 & 0.9530, SL 0.9330

Resistance Levels

R1: 0.9497

R2: 0.9517

R3: 0.9540 (May 27 high)

Support Levels

S1: 0.9468                                           

S2:0.9450 (61.8% Retracement Level of 0.9393 to 0.9542)

S3:0.9428