Overview:
- The price of USD/CHF pair is still been trapped between 0.9650 and 0.9704 but it should noticed that the price has set above strong support at the level of 0.9650 (50% of Fibonacci retracement levels in H1 chart). Moreover, it is worthy of note that these levels coincide between 50% and 100% of Fibonacci retracement levels in H1 chart and the pair has already formed a strong support at the level of 0.9650. Now, it is approaching it in order to test it. Therefore, the USD/CHF pair upside momentum is rather convincing and the structure of the rise does not look corrective, in order to indicate a bullish opportunity above 0.9650, it will be a good sign to sell above this support with the first target of 0.9690. It will call for an uptrend continuing rising towards 0.9704 to try to break the weekly resistance 1. Thus, if the trend will be able to break the weekly resistance 1, then the market will lead to the double top at the point of 09727.
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