FxWirePro: USD/CHF key support at 0.9750, bullish in the short term

>The USD/CHF pair rallied from 0.9774 to test minor resistance level at 0.9814 in the early US session. However, after failing to break resistance level at 0.9814, the pair has turned back towards 0.9775 support level.

>The pair is set to consolidate around 0.9750 and reach higher levels as pair remains under bulls control unless until it trades above 0.9674 strong support level, therefore it is good to buy this pair around 0.9750 levels.

>The pair is trading around 0.9767 levels and it is expected advance further towards 0.9800and 0.9850 levels in the short term.To the upside, the strong resistance can be seen at 0.9800 (23.6% Retracement level), a break above this level would take the pair all the way towards 0.9843 resistance level.

>To the downside immediate support can be seen 0.9753, a break below this level will take the pair to next level at 0.9732 (61.8% Retracement level).

Recommendation: Go long above 0.9680, targets 0.9750, 0.9780, SL 0.9580

Resistance Levels

R1: 0.9775 (38.2% Retracement level)

R2: 0.9800 (23.6% Retracement level)

R3: 0.9843 (Sep 25th high)

Support Levels

S1: 0.9753 (50% Retracement level)

S2: 0.9732 (61.8% Retracement level)

S3: 0.9707 (Sep 22nd lows)