Overview:
- As expected the USD/CHF pair continues to move upwards from the level of 0.9769. Yesterday, the pair rose from the level of 0.9769 (this level of 0.6557 double bottom) to the top around 0.9801. Today, the first resistance level is seen at 0.9854 followed by 0.9908, while weekly support 1 is seen at 0.9742. Today, the USD/CHF pair is faced a minor resistance at the level of 0.9801. So, the pair is likely to try to break it in order to continue its bullish. Furthermore, the RSI starts signaling an upward trend, as the trend is still showing strength above the moving average (100). As a result, the market is indicating a bullish opportunity above 0.9769, for that it will be good to buy at 1.0075 with the first target of 0.9965. It will also call for a downtrend in order to continue towards 0.9854. The daily strong support is seen at 0.9808. However, if the pair fails to pass through the level of 0.9854 or 0.9808, the market will indicate a bearish opportunity below the new strong resistance level of 0.9808.
