Technical analysis of USD/CHF for October 10, 2017

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USD/CHF is expected to trade with a bullish outlook above 0.9755. The pair posted a rebound from 0.9755 and broke above its 20-period and 50-period moving averages. The relative strength index is supported by a bullish trend line.

Therefore, as long as 0.9755 is not broken, a further upside to 0.9815 and even 0.9835 (the high of Oct. 6) seems more likely to occur.

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: 0.9755, Take Profit: 0.9815

Resistance levels: 0.9815, 0.9835, and 0.9870

Support levels: 0.9730, 0.9700, and 0.9660

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