The USD/CHF has bounced back towards 0.9136 levels, after failing to break below 1.0057 support level. The pair has been trading in bullish trend off late and it is set to continue advancing further.
- As long as the pair trades above 1.0057 levels the pair remains under strong bulls control. The pair has close below 1.0057 in order find any bearish momentum unless until it's good to go long on this pair.
- To the upside, the strong resistance can be seen at 1.0187, a break above this level would take the pair all the way towards 1.0234 levels.
- To the downside immediate support can be seen 1.0097, a break below this level will take the pair to next level at 1.0057.
Recommendation: Go long above 1.0080, targets 1.0160, 1.0220, SL 0.9985
Resistance Levels
R1: 1.0140 (38.2% Retracement level)
R2: 1.0187 (23.6% Retracement level)
R3: 1.0234 (Jan 11th high)
Support Levels
S1: 1.0097 (50% Retracement level)
S2: 1.0057 (61.8% Retracement level)
S3: 0.9984 (Nov 12th lows)
