FxWirePro: USD/CHF declines towards 0.9535, but reversal is likely
The USD/CHF has slipped back towards 0.9525 levels, after failing to break résistance level at 0.9566. The pair has been trading in a narrow range lately, and strong rebound is expected to take place sooner from around 0…
The USD/CHF has slipped back towards 0.9525 levels, after failing to break résistance level at 0.9566. The pair has been trading in a narrow range lately, and strong rebound is expected to take place sooner from around 0.9500 levels as this level has been strong recovery zone for the bulls.
The pair earlier tested resistance level at 0.9566, however after failing to break, it is declined back trade around 0.9536 levels in the US session.
To the upside, the immediate resistance can be seen at 0.9548, a break above this level would take the pair towards next resistance level at 0.9566.
To the downside immediate support can be seen 0.9530, a break below this level will take the pair towards next level at 0.9522 levels.
