FxWirePro: USD/CHF approaching support level at 0.9744, buy deals are recommended above 0.9745

 

• USD/CHF pair is approaching support level 0.9747 (61.8% Retracement level, the support level 0.9747 is expected hold the bears and push pair further up.

• The pair is currently trading around 0.9744 levels. It is expected to, advance further towards 0.9800 and later 0.9850 levels in the short term.

• Major resistance is located 0.9806 (32.8% Retracement level), a break above at this level will open the door to 0.9843 levels. To the downside, strong support can be seen 0.9747 (61.8% Retracement level), a break below will open the gates towards 0.9716 levels.

Recommendation: We prefer long above 0.9750 with targets 0.9790 & 0.9830, SL 0.9650

Resistance Levels

R1: 0.9787 (Aug 4^th high)

R2: 0.9806 (32.8% Retracement level)

R3: 0.9842 (23.6% Retracement level)

Support Levels

S1: 0.9744 (61.8% Retracement level)

S2: 0.9716 (July 30^th high)

S3:0.9667 (Aug 4^th lows)