>The USD/CHF pair rallied from 0.9709 to test resistance level at 0.9751 in the early European session. However, after failing to break resistance level at 0.9751, the pair has turned back towards 0.9709 support level. The pair is set to consolidate sooner or later to reach higher levels as pair remains under bulls control unless until it trades above 0.9674 support level, therefore it is good to buy this pair on dips.
>The pair is trading around 0.9730 levels and it is expected advance further towards 0.9760 and 0.9780 levels in the short term.
>To the upside, the strong resistance can be seen at 0.9750, a break above this level would take the pair towards next resistance level at 0.9796.
>To the downside immediate support can be seen 0.9709, a break below this level will take the pair to next level at 0.9674 (50% Retracement level).
Recommendation: Go long above 0.9680, targets 0.9750, 0.9780, SL 0.9580
Resistance Levels
R1: 0.9750 (23.6% Retracement level)
R2: 0.9764 (Sep 15th high)
R3: 0.9796 (Sep 11th high)
Support Levels
S1: 0.9709 (38.2% Retracement level)
S2: 0.9674 (50% Retracement level)
S3: 0.9640 (61.8% Retracement level)
