The USD/CHF has slipped back towards 0.9750 levels, after failing to break above 0.9978 resistence level. The pair has been trading in bullish trend off late and is set to continue advancing further, as long as the pair trades above 0.7850 levels the pair remains under strong bulls control. The pair has close below 0.9800 in order find bearish momentum unless until it's good to go long on this pair.
- To the upside, the strong resistance can be seen at 0.9978, a break above this level would take the pair all the way towards 1.0050 levels.
- To the downside immediate support can be seen 0.9857, a break below this level will take the pair to next level at 0.9763.
Recommendation: Go long above 0.9870, targets 1.0000, 1.0050, SL 0.9780
Resistance Levels
R1: 0.9978 (Daily high)
R2: 1.0057 (23.6% Retracement level)
R3: 1.0134 (March 8th high)
Support Levels
S1: 0.9857 (50% Retracement level)
S2: 0.9763 (61.8% Retracement level)
S3: 0.9685 (Oct 7th lows)
