FxWirePro: USD/CHF runs out of steam but maintains upward bias
The USD/CHF pair rallied initially to test minor resistance level at 1.0052 in the mid-European session. However, after failing to break resistance level at 1.0052, the pair has slipped back to test 1.0015 support level.…
The USD/CHF pair rallied initially to test minor resistance level at 1.0052 in the mid-European session. However, after failing to break resistance level at 1.0052, the pair has slipped back to test 1.0015 support level.
The pair remains under bulls control unless until it trades above 0.9880 support level, therefore it is good to buy this pair around 0.9850 levels.
To the upside, the strong resistance can be seen at 0.9973, a break above this level would take the pair all the way towards 1.0030 levels.
To the downside immediate support can be seen 1.0015, a break below this level will take the pair to next level at 0.9970.
Recommendation: Go long above 0.9980, targets 1.0040, 1.0100, SL 0.9850
