EUR/CHF analysis for August 01, 2017

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Recently, the EUR/CHF pair has been trading upwards. As I expected, the price tested the level of 1.1453. Anyway, today the price went to test the upward trend line (support), which is holding good and my advice is to watch for potential buying opportunities. The stochastic is showing an oversold condition, which is another good sign of strength. Upward targets are set at the prices of 1.1450 and 1.1500.

Resistance levels:

R1: 1.1495

R2: 1.1540

R3: 1.1620

Support levels:

S1: 1.1370

S2: 1.1285

S3: 1.1240

Trading recommendations for today: watch for potential buying opportunities.

The material has been provided by InstaForex Company - www.instaforex.com