USD/CHF is expected to trade with a bullish outlook. The upside breakout of the 0.9675 former resistance area opened the way toward 0.9745. Indeed, the 0.9675 former resistance has been maintaining a bearish bias; as a consequence the upside breakout of this level is lowering the immediate corrective risk.
We Suggest long positions above 0.9675 with targets at 0.9745 and 0.9770 in extension.
Chart Explanation: The black line shows the pivot point. The present price above the pivot point indicates a bullish position, and the price below the pivot points indicates a short position. The red lines show the support levels and the green line indicates the resistance levels. These levels can be used to enter and exit trades.
Strategy: BUY, Stop Loss: 0.9675, Take Profit: 0.9745
Resistance levels: 0.9745, 0.9770, and 0.9795
Support levels: 0.9650, 0.9625, and 0.9775
The material has been provided by InstaForex Company - www.instaforex.com