Overview:
- The USD/CHF pair rose from the level of 0.9550 towards 0.9603 yesterday. Now, the current price is set at 0.9600. On the H1 chart, the resistance is seen at the levels of 0.9640. Besides, the daily bottom is seen at the level of 0.9550. Today, the USD/CHF pair is continuing moving in a bullish trend from the new support level of 0.9550 to form a bullish channel. Amid the previous events, we expect the pair to move between 0.9550 and 0.9640. Therefore, buy above the level of 0.9550 with the first target at 0.9640 in order to test the daily resistance 1. Nevertheless, if the pair fails to pass through the level of 0.9640, the market will indicate a bearish opportunity below the level of 0.9640. The market will decline further to 0.9550 in order to return to the double bottom. Additionally, a breakout of that target will move the pair further downwards to 0.9492.
Weekly technical levels:
- R3: 0.9950
- R2: 0.9868
- R1: 0.9721
- PP: 0.9639
- S1: 0.9492
- S2: 0.9410
- S3: 0.9263
