FxWirePro: USD/CHF approaching support level at 0.9760, buy deals are recommended around 0.9740

 

• USD/CHF pair is approaching support level 0.9760 (61.8% Retracement level), the support level 0.9730 is expected hold the bears and push pair further up.

• The pair is currently trading around 0.9765 levels. It is expected to, advance further towards 0.9800 and later 0.9850 levels in the short term.

• Major resistance is located 0.9815 (32.8% Retracement level), a break above at this level will open the door to 0.9845 levels. To the downside, strong support can be seen 0.9705, a break below will open the gates towards 0.9650 levels.

Recommendation: We prefer long above 0.9740 with targets 0.9790 & 0.9830, SL 0.9650

Resistance Levels

R1: 0.9788 (Aug 4^th high)

R2: 0.9815 (32.8% Retracement level)

R3: 0.9846 (23.6% Retracement level)

Support Levels

S1: 0.9760 (61.8% Retracement level)

S2: 0.9730 (Aug 13^th high)

S3:0.9705 (Aug 12^th lows)