The USD/CHF has slipped back towards 0.9725 levels, after failing to advance further above yesterday's high at 0.9954. The pair currently is approaching to support level at 0.9880, the pair is expected to rebound around 0.9880 and reclaim 1.0000 levels sooner or later as the pair has broken major resistance level at 0.9872.
- The pair is trading around 0.9907 levels and it is expected advance further towards 0.9950 and 1.000 levels in the short term.
- To the upside, the strong resistance can be seen at 0.9933, a break above this level would take the pair all the way towards 1.0000 levels.
- To the downside immediate support can be seen 0.9880, a break below this level will take the pair to next level at 0.9815 levels.
Recommendation: Go long above 0.9850, targets 0.9960, 1.0000, SL 0.9780
Resistance Levels
R1: 0.9933(23.6% Retracement level)
R2: 0.9957 (Oct 29th high)
R3: 1.0000 (Psychological levels)
Support Levels
S1: 0.9880 (61.8% Retracement level)
S2: 0.9815 (Oct 28th lows)
S3: 0.9755 (Oct 26th lows)
