FxWirePro: USD/CHF approaching resistance at 0.9627, bullish in the short term

 

 

• USD/CHF pair is approaching to test resistance level 0.9627 levels, the pair has broken resistance at 0.9571 and is advance further towards 0.9627 levels.

• The pair is currently trading around 0.9586 levels. It is expected to, advance further towards 0.9650 and later 0.9680 in the short term. The Swiss Franc is broadly weaker against the dollar in the short term due to due to broader dollar demand across the board.

• Major resistance is seen at 0.9627 (23.6% Retracement level), a break above at this level will open the door to 0.9650 levels. To the downside, immediate support can be seen at 0.9571.

 

Recommendation: We prefer long above 0.95750 with targets 0.9610 & 0.9650, SL 0.9350

Resistance Levels

R1:0.9627 (23.6% Retracement level)

R2:0.9674

R3:0.9716

Support Levels

S1: 0.9571(38.2% Retracement level of 0.9337 to 0.9716)

S2: 0.9527           

S3: 0.9482(61.8% Retracement level)