Overview:
- The USD/CHF pair fell from the level of 1.0092 to the bottom at 0.9802 last week. The USD/CHF pair has faced strong support at the level of 0.9802, for that the pair rebounded from the bottom of 0.9802 towards the first resistance at the level of 0.9906. Today, the USD/CHF pair has faced resistance at the level of 0.9802, while major resistance is seen at 1.0011. Support is found at the levels of 0.9802 and 0.9721. The target level is seen at 0.9958. In the H1 time frame, if the pair fails to pass through the level of 0.9906, the market will indicate the bearish opportunity below the level of 0.9906 in order to reach the first target at 0.9802 in order to re-test the double bottom again. From this point, we expect the USD/CHF pair to continue moving in the bearish trend from the bottom level of 0.9802 towards the next target at 0.971, which represents the weekly support 1. However, a breakout of the level at 0.9906 will move the pair further upwards to 1.0090 today.
