Overview:
- The USD/CHF pair is trading in an uptrend channel, the market showed signs of instability.
- According to the previous events, the trend is still trading between the levels of 0.9974 and 1.0101.
- The daily resistance and support are seen at the levels of 1.0101 and 0.9974 respectively.
- The market moved from its bottom at 0.9974 and continued to rise towards the top of 1.0045.
- The current rise will remain within a framework of correction. However, the resistance will be set at the point of 1.0158.
- If the pair fails to pass through the level of 1.0158, the market will indicate a bearish opportunity below the strong resistance level of 1.0158
- Since there is nothing new in this market, it is not bullish yet.
- Sell deals are recommended below the level of 1.0158 with the first target at 1.0050.
- If the trend breaks the support level of 1.0050, the pair is likely to move downwards continuing the development of a bearish trend to the level 0.9974 in order to test the daily support 1.
- Generally, we expect a large range between the levels of 0.9974 and 1.0158. So, the major suport is seen at 0.9974.
