Overview:
- The USD/CHF pair rose from the level of 1.0190 towards 1.0241 yesterday. Now, the current price is set at 1.0241. On the H1 chart, the resistance is seen at the levels of 1.0265 and 1.0290. Besides, the weekly support 1 is seen at the level of 1.0190. Today, the USD/CHF pair is continuing to move in a bullish trend from the new support level of 1.0221 to form a bullish channel. Amid the previous events, we expect the pair to move between 1.0221 and 1.0290. Therefore, buy above the level of 1.0221 with the first target at 1.0265 in order to test the daily resistance 1 and further to 1.0290. Moreover, since the trend is above the 50% Fibonacci level (1.0190), the market is still in an uptrend. Therefore, the USD/CHF pair is continuing with a bullish trend from the new support of 1.0221. On the other hand, the stop loss should always be taken into account for that it will be reasonable to set your stop loss at the level of 1.0175 (below the support 1).
