USD/CHF pair is approaching resistance level at 0.9507, the resistance level is set to act as strong barrier to the bulls, as long as this levels are not broken the trend of this pair remains bearish. A decline from 0.9480 levels are is expected sooner or later.
- The pair is currently trading around 0.9463 levels. It is expected to,decline towards 0.9400 and later towards 0.9350 levels in the short term.
- Major resistance is located R1: 0.9507, a break above at this level will open the door towards 0.9553.
- To the downside, strong support can be 0.9726 (Aug 14th lows), a break below will open the gates towards 0.9683 levels.
Recommendation: We prefer short below 0.9480 with targets 0.9430 & 0.9370, SL 0.9540
Resistance Levels
R1: 0.9507 (61.8% Retracement level)
R2: 0.9553
R3: 0.95588
Support Levels
S1: 0.9414 (38.2% Retracement level)
S2: 0.9380 (Aug 26th lows)
S3: 0.9352(23.6% Retracement level)
