Overview:
- The USD/CHF pair faced minor resistance at the level of 0.9954, while major resistance is seen at the level of 0.9999. Support is found at the levels of 0.9895 and 0.9866. Also, it should be noted that a daily pivot point has already set at the level of 0.9910. Equally important, the USD/CHF pair is still moving around the key level at 0.9910, which represents a daily pivot in the H4 time frame at the moment. Yesterday, the USD/CHF pair continued moving upwards from the level of 0.9895. The pair rose from the level of 0.9895 to the top around 0.9954. In consequence, the USD/CHF pair broke resistance, which turned strong support at the level of 0.9895. The level of 0.9895 is expected to act as major support today. From this point, we expect the USD/CHF pair to continue moving in the bullish trend from the support level of 0.9895 towards the target level of 0.9954. If the pair succeeds in passing through the level of 0.9954, the market will indicate the bullish opportunity above the level of 0.9954 in order to reach the second target at 0.9999. On the other hand, if a breakout happens at the support level of 0.9866, then this scenario may be invalidated.
