>The USD/CHF pair rallied initially to test resistance level at 0.9784 in the early European session. However, after failing to break resistance level at 0.9784, the pair slipped back to test 0.9736 support level. The pair remains under bulls control unless until it trades above 0.9714 support level, therefore it is good to buy this pair around 0.0730.
>The pair is trading around 0.9730 levels and it is expected advance further towards 0.9760 and 0.9820 levels in the short term.
>To the upside, the strong resistance can be seen at 0.9784 (Sep 23rd high), a break above this level would take the pair all the way towards 0.9800 levels.
>To the downside immediate support can be seen 0.9714 (50% Retracement level), a break below this level will take the pair to next level at 0.9670(61.8% Retracement level).
Recommendation: Go long above 0.9730, targets 0.9770, 0.9820, SL 0.9580
Resistance Levels
R1: 0.9765 (38.2% Retracement level)
R2: 0.9784 (Sep 23rd high)
R3: 0.9796 (23.6% Retracement level)
Support Levels
S1: 0.9736 (Sep 23rd lows)
S2: 0.9714 (50% Retracement level)
S3: 0.9670(61.8% Retracement level)
