FxWirePro: USD/CHF key support at 0.9670, buy deals are recommended around 0.9680

• The USD/CHF has slipped back towards 0.9700 levels, after failing to hold above monthly high at 0.9825, the pair has broken 50% fib retracement level at 0.9712 and is moving to test next resistance level at 0.9670. The support level at 0.9670 is set to hold the bears falling further and brings a rebound later, as the US dollar is set to strengthen against Swiss franc.

• The pair is trading around 0.9710 levels and it is expected advance further towards 0.9760 and 0.9800 levels in the short term.

• To the upside, the strong resistance can be seen at 0.9757(38.2% Retracement level), a break above this level would take it to upside to next resistance level at 0.9812 (23.6% Retracement level).

• To the downside immediate support can be seen 0.9710 (61.8% Retracement level), a break below this level will take the pair to next level at 1.0900 levels.

Recommendation: Go long above 1.0940, targets 1.0990, 1. 1030, SL 1.0850

Resistance Levels

R1: 0.9757(38.2% Retracement level)

R2: 0.9812 (23.6% Retracement level)

R3: 0.9853 (Aug 5th high)

Support Levels

S1: 0.9710 (61.8% Retracement level of 0.9905 and 0.9525)

S2: 0.9670

S3: 0.9582 (Aug 31st)